Psalm 1:3 (NKJV)

He shall be like a tree Planted by the rivers of water, That brings forth its fruit in its season, Whose leaf also shall not wither; And whatever he does shall prosper.

Eisegesis: 

If you plant yourself in the faith, you will become prosperous in everything you do.

Exegesis:   

It is not material prosperity here but rather spiritual success in one’s life through applying and adhering to “the law of the Lord.” Here prosperity does not refer to earthly wealth, but rather spiritual well-being.

The danger of prosperity preaching is that it leads people to believe their poverty has a direct correlation to their level of faith and/or sinfulness.

Psalms 1:3 is one of the verses used by prosperity preachers to teach that if a person plants themselves like a tree, they will be guaranteed a successful life.

When the verse says, “they will prosper in whatever they do,” it does not mean believers are immune to failures or difficulties. Nor does it guarantee we will always be healthy, wealthy, and happy.

The phrase “whatever they do prospers” in isolation might lead some to believe that all righteous people will experience uninterrupted material success or that if you are good, nothing bad will happen. In reality, the Psalms and other scriptures repeatedly acknowledge the sufferings and trials of the righteous. 

The metaphor of the tree refers to someone who meditates on God’s word all day long. In this case, the person is likened to a tree with an abundant supply of water, symbolizing God’s provision of sustenance. The metaphor describes such a person’s qualities: they are spiritually healthy, vibrant, and productive, exhibiting the fruits of a life lived in accordance with divine teachings.

Just as a tree soaks up water and bears fruit, we are also to soak up God’s word, producing actions and attitudes that honor God. Having God’s word in our hearts is essential to achieving anything worthwhile.

The Hebrew word for “prosper” has a broader meaning than the English word prosper, which tends to be financial-related while the context is on our spiritual prosperity.

In summary, Psalm 1:3 speaks about the holistic flourishing and stability of those who root their lives in God’s Word. In contrast to the transient nature of the wicked, this is not a promise of long-term material success but a picture of deep, enduring health and vitality for the righteous.

This entire Psalm endorses living by God’s teachings and promises, acknowledging that living by such a way is fruitful and stable, while living by our own ways is unfruitful and unstable.