In three places in Colossians, Paul makes key statements. If we understand the great truths behind these three verses, then we truly understand ourselves and our intended destiny.
Made an heir with the saints
Col 1:12"The Father... has qualified us to share in the inheritance of the saints in light."
The light is the gospel of Jesus Christ. We are in light when God translates us out of the domain of darkness into the kingdom of His Beloved Son (Col 1:13).
The inheritance is not on earth but above where Christ is seated at God’s right hand in glory. We will be with him in glory one day (Col 3:1-4).
In Ephesians, the twin epistle to Colossians, Paul goes into more detail about this marvelous inheritance that we possess (Eph 1:11-14).
New Life in baptism through faith
Col 2:12"Having been buried with him in baptism... you were also raised up with him through faith..."
Paul tells us that we have "put on a new self which is being renewed to a true knowledge..."(Col 3:10). How is this new self born and how is the old sinful self buried?
Paul says that this burial and rebirth happens in baptism (Col 2:12, cf Rom 6:3-11). Note Paul’s qualifying statement that what happens in baptism comes about through faith.
Hidden with Christ in God
Col 3:3"Your life is hidden with Christ in God."
Christ our life is hidden from our eyes because he is seated with God in glory. Our eternal life with him is even more real than the things we see. Because it is hidden with Christ in God, it is reserved for us in absolute safe keeping.
Paul comforts and encourages to set our minds not on earthly things, but on the heavenly things. They are hidden, but we can still believe in them and think about them —until we see them when Jesus takes his saints to dwell in glory with him forever.
This is who you are and what you are. To understand this is to truly understand yourself and to be truly fulfilled.