I do not remember where I first heard or read this but I has stuck with me, some people are poor all they have is money! The meaning is quite simple that despite their (material) wealth they are (spiritually) poor.
Our text today warns us of becoming such a person v.6 Even those who trust in and rely on their wealth, And boast of the abundance of their riches? While there is nothing wrong with being a wealthy Christian, it where you have placed your daily trust and confidence that matters. Are you relying on your wealth and others or the LORD to get you through each day?
Folks listen here God will not be mocked, those that think they can deal with God on their own terms as foolishly mistaken. In v.12-13 God has an answer for those that would trust in their wealth over Him; But man, with all his [self] honor and pomp, will not endure; He is like the beasts that perish. 13 This is the fate of those who are foolishly confident, And of those after them who approve [and are influenced by] their words.
So the question today is simple are you materially rich trusting in self or Spiritually rich trusting in the Lord?
Heavenly Father, conserver of all mankind, suffer us never to be so entangled with earthly and corruptible things, wherein the children of this world put their trust and assurance, that we fail to acknowledge at all times our own weakness and miseries, lest we through our unthankfulness we be justly spoiled of the fruit of that hope which thy children have in thee only, through Jesus Christ, Amen. From Psalm 49. Prayers on the Psalms, ed. by David B. Calhoun, from The Scottish Psalter of 1595.