There is an understanding, an unveiling of God, His ways, His purposes; His will wrapped up in His Word (as we view this verse from a broader perspective). We get all of this from being a student of the Word of God and taking it to heart. His word is true! It is spirit and life! It is quick and powerful, sharper than a double-edged sword. It cuts, it rebukes. It encourages. It corrects. It heals. It strengthens. We have such a different perspective (God's perspective) of world events, world affairs, our own experiences and the things that happen in our lives, all because we are students of the Word of God and we take His Word to heart.
So many people attend church but are not students of the Word; therefore they don't know how to handle adverse situations and circumstances, attacks of the enemy, sickness and so many other things when they happen. Don't be one of those. The declaration is we are blessed when we read, hear, and take to heart the things that are written in ths prophecy and also in the Word of God!