In 1 Peter 1:3-4, Peter praises God for His great mercy. This mercy has manifested itself in the new birth. Those born into the family of God gain rights and blessings, including the living hope through the resurrection of Jesus. The Greek term for "hope" in this passage means a "joyful and confident expectation of eternal salvation." Peter also explains that this living hope is a believer's inheritance in heaven itself (verse 4).
The term "living hope" is contrasted with dead or false hopes. It emphasizes the dynamic and enduring nature of the hope believers have in Christ. This hope is not wishful thinking but is grounded in the reality of Jesus' resurrection. It is a hope that sustains believers through trials and is a recurring theme in Peter's epistle (1 Peter 1:13; 3:15).
First Peter Chapter 1 provides the context for the living hope of verse 3. Verses 3-5 explain what it means to be saved and to live saved, to be kept by God through faith. Verses 6-9 describe trials believers face, and 1:13-25 describes how to live before God. That chapter provides encouragement for the living hope we have through Christ.
In historic Christianity, believers in general, and especially leaders and servants, were expected to exemplify holiness, repentance, and a lifestyle consistent with Christ’s teachings. This hasn’t changed. As believers we must see ourselves as holy or "set apart," people with a special purpose. We should act as those who are God's own people, rejecting the evil desires that once drove our actions before we knew better. This might be uncomfortable as our unbelieving friends may throw the “you’ve changed” accusation at us. Rather than defending ourselves, we should agree with them, tell them why, and invite them to experience that change themselves.