This verse illustrates that a person's blessings come when they choose to follow a path that is righteous. Here, other people have a direct impact on this determination. Throughout this verse, we are warned to stay away from the wrong types of interpersonal relationships.
In today's world, Christians must lead righteous lives, refusing to be influenced by godless attitudes. This is a warning to all God's children on how to live a Christian life. Do not follow the counsel of the wicked, or you may end up standing in the path of sinners and even sitting in the seat of scoffers! We are shown in just a few words how quickly a believer can leave their first love, lose their heavenly reward, destroy their Christian testimony, and lose fellowship with their heavenly Father.
In Christ, we have been given a multitude of temporal blessings in this world and eternal blessings in the ages to come. The eternal security is guaranteed. There are blessings today and rewards to come for those who refuse to walk in the counsel of the wicked, who refuse to stand in the way of sinners, and who refuse to sit in the midst of scoffers.

Dear Heavenly Father, please help me to walk in Your way and avoid foolish compromises with the world system. Don't let the godless mindset of this generation influence my thinking. Keep my focus on the Lord Jesus. Let me be like the man planted by Your rivers of grace, love, joy, and peace. Let Your mercy and compassion flow through me to the people around me.  

In Jesus's name I pray. Amen.