1 Peter 1:9

Ultimately we will obtain the full salvation of our souls (i.e., glorification, though not necessarily exemption from physical suffering and death now). The Greek word translated "souls" (psychon) refers to our persons, namely, the whole beings God has saved (cf. Mark 3:4; Mark 8:34-37; Romans 13:1; 1 Thessalonians 2:8; James 1:21; James 5:20; et al.). [Note: See Bigg, p. 107.] A better translation would be "selves" or "lives." Peter probably did not intend a contrast with our bodies. [Note: Edwin A. Blum, "1 Peter," in Hebrews-Revelation, vol. 12 of The Expositor’s Bible Commentary, p. 221.] This is part of the reason we experience joy in present trials as well. Since our salvation comes by faith it is only consistent that we should continue to trust God now. Our salvation is still in process. [Note: See Dillow, pp. 119-22.]

To summarize this first major section so far (1 Peter 1:3-9), Peter called on his readers to rejoice in their present sufferings because of their hope, faith, and love. They had certain hope in the future appearing of Jesus Christ and in their final glorification. They had faith in God’s dealings with them presently, namely, allowing them to undergo trials, and they had love for Jesus Christ for what He had already done for them in the past. It does not matter if we look forward, around us, or backward. We can find grounds for rejoicing wherever we look even as we suffer.