³⁴ Wait on the Lord,
And keep His way,
And He shall exalt you to inherit the land;
When the wicked are cut off, you shall see it.

Wait:  look, patiently, tarry, wait (for, on, upon) 

Keep:  observe, preserve, regard

Way: a course of life or mode of action

Exalt:  hold up, raise, lift up,

Inherit: give to, possess, get or take possession,

Land:  the domain so named by Yahweh.

Wicked: immoral, condemned, ungodly

There are conditions to inheriting The Land. We need to be patiently waiting for the Lord to act in His time and we are to keep His way. Keeping His way is to both observe and regard His course of life. How does the Lord act? He is loving and just. Sometimes His justice doesn't look fair, it can look harsh but remember the Lord always sets the conditions beforehand and gives ample warning of the consequences. If we wish to be lifted up to a position where we can take possession of the land, we must do it the Lord's way. 

What are the consequences if we rebel against the Lord?  Who are the wicked, the wicked are the ungodly who are condemned by their own actions. The wicked are cut off, they will not inherit the Land. Today if a person rebels against God's way and refuses His free gift of salvation, he will not inherit the kingdom of heaven.