Biblical Commentary:What does Psalm chapter 49 mean?

Chapter Context
As did Psalm 73, this passage tackles the riddle of how to respond to prosperity among those who reject God. Just as did Asaph (Psalm 73:15–19), the psalmist concludes that the prosperous wicked face a hopeless end. The righteous have an endless hope. This psalm is rightfully regarded as a wisdom psalm. Several themes, such as the temporary nature of wealth, are echoed in the book of Proverbs.

What does Psalm chapter 49 mean?

The subject of this psalm is depicted as a "riddle." In this case, that means something hard to understand or a frustration which requires wisdom to untangle (Proverbs 1:6–7). According to the introduction, this message is valuable for all people. That includes those who are rich or poor, powerful or weak (Psalm 49:1–4).
The mystery in question is how to react to people who are both wicked and rich. Some appear to live lives of comfort and prestige, though their hearts are opposed to God. Meanwhile, godly people often suffer. This is a topic addressed in other psalms (Psalm 73:2–3) and proverbs (Proverbs 11:4; 22:2). This can be discouraging to those who faithfully follow the Lord. However, those who reject God can only have temporary, false security. Money and prestige do not buy a pardon from sin. Eventually, everyone dies, and the rich will leave their money behind for others. Only the God-fearing person has hope in eternity (Psalm 49:5–12).
Those who trust in wealth, instead of God, have a final destiny of death. The psalm uses the term Sheol several times, referring vaguely to the grave or state of being dead. Those who honor God shouldn't be jealous of prosperous-but-ungodly people. Just as the poor, those rich persons will one day face God in judgment. No matter how wealthy a man is, he cannot avoid death any more than can the lowliest animal (Psalm 49:13–20).
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