Blessed [fortunate, prosperous, and favoured by God] is the man who does not walk in the counsel of the wicked [following their advice and example], Nor stand in the path of sinners, Nor sit [down to rest] in the seat of scoffers (ridiculers). But his delight is in the law of the Lord, And on His law [His precepts and teachings] he [habitually] meditates day and night. And he will be like a tree firmly planted [and fed] by streams of water, Which yields its fruit in its season; Its leaf does not wither; And in whatever he does, he prospers [and comes to maturity].
To be blessed by God is to have a deep and fulfilling joy in the depths of your soul. It far transcends being happy. Happiness comes and goes, according to our state of mind and the things we are going through in life. But to have God's blessedness in our lives, means that joy is within us regardless of our emotions, and what we are going through.
When we break away from the norm of following our own devices, living our lives according to our will and others, and begin to delight in God's ways and teachings; meditating on these things daily, we will begin to grow and be fruitful.
Whatever we do we will be prosperous.