A Miktam is a Hebrew word meaning “writing” or “psalm” and could mean that it is an epigrammatic poem or atonement Psalm.
Verses 1-2-David begins where we should begin. He realized that apart from God, we have no goodness. As mentioned in Psalm 14, there is none good except God. When we realize this, we will come to Him more often out of need and desire.
Verse 3-David understands the way of godliness is found in the company we keep (1 Corinthians 15.33). We may believe that God is our Saviour and be in right relationship with Him. However, our daily fellowship with Him can be determined by whom we allow in our circle of friends. Consider your friends. Are they bringing you closer to God or are they undermining what God wants to do in your life? Your friends are either helping to purify you or pollute you. Only one is possible. Read 1 John 1.1-4 for insight into fellowship with God.
Verse 4-This verse furthers the concept found in verse three. Those involved in syncretism will not prosper (1 Timothy 6.10). Does David imply that we should not even pray for them? Psalm 106.37-38 sheds light on this verse and what these people were doing.
Verses 5-6-David is reflecting on the good that God has done for him, even in dire circumstances. He knows that it is only in God that we have meaning and purpose in this life.
Verses 7-10-David is writing of God’s blessings on him and how he can rest secure in the hands of the almighty God. God does not allow His people to go to Hell (Sheol). Peter ascribes these verses to Jesus (Acts 2.25-32). That is that God did not keep His Son in Hell but resurrected Him from the dead. Paul quotes this verse when preaching in Antioch as applying to Jesus (Acts 13.35). This is our hope and our peace (1 Peter 1.3 and Hebrews 13.20). This also makes this a Messianic Psalm. These verses are fulfilled in Mark 16.6-7 when Jesus was resurrected.
Verse 11-It is God alone who is good (verse 1) and from Him alone we find the path we are to walk on (Proverbs 3.5-6), or our purpose in life. It is only as we come before Him in prayer, Bible study, song, and fellowship (all of which are worship), that we find our greatest pleasures in life.
Where have you been trying to find meaning? Is it in a person, an object, an activity? If it is not God, then you will fail to find meaning, purpose, in this life.