This is the continuation of verse one. It answers the two questions, "How long am I to be obedient to God's commandments," and "What will be the result?"
We are to hold fast our parent's teaching - and obey the commandments for length of days and years of life. This is a Hebraism that means - forever. First we have the picture of days - for the length of each day - which is the unit of life that we experience - well - every day. But then as days add up they become years. We are to be obedient to God for the "years of life." We begin by choosing to follow the Lord daily - but then as we do this we wind up following Him and doing what pleases Him for years and years. This is how to build a godly lifestyle - first by walking through days - no matter how hard they are. We are to walk with God whether things are good or bad - whether they are happy or sad. What matters is doing that which pleases the Lord. Then we are to follow over the years. This is where we enter into seasons of life. There are the early years of youth where we are to be learning from those older and wiser. Then we move into marriage and early adulthood. Then we have children and begin the arduous, yet wonderful task of rearing them for Christ. Then as the children move out of the nest we refocus our lives on God's will in raising up disciples outside our home while still being a source of wisdom for our children as they move into adulthood. Finally, we move into the autumn of our lives when our strength wanes and we learn to be a wise sage toward those who need counsel and wisdom. Through the "years of life" we walk with God and live our lives according to wisdom. That is how life should be lived - may God bless us so that we will not get off course.
Why should we live this way? Because not only will wisdom help in the present - but it will add peace to you. I know that every time I choose to depart from God's will peace is not the result. The devil may offer something we think is good - but trust me - it is not in the end. What he offers will not add peace to your life. It will add trouble and turmoil. Look anywhere in Scripture where men or women stepped outside of God's Word and will and you will find there is no peace there. Look at life today and you will see the same things. It is wonderful to know that God will forgive and restore - but often the consequences of our actions will linger and will not leave peace. That is why it is best for us to never leave the ways of God. Do what verse one in this chapter says. Don't forget the teaching - let your heart hold fast the commandments - and the result will be that peace will be added to your life and the grace of God will prevail in all that you do.