Although belief in reward and punishment is a requirement, the person should not assure himself that he will receive reward for his good deeds, nor should he serve G‑d with the intention of receiving reward:

It is not proper for a person to rely on his good deeds and to assure himself that he will receive a reward for his deeds in this world and the next. Rather, he should exert himself and make efforts to do good as a way of thanking the Creator for the constant kindness that He bestows upon him, not out of hope that he will receive a reward in the future as payment for his good deeds.

וְאֵין רָאוּי לִבְטוֹחַ עַל מַעֲשֵׂהוּ הַטּוֹב וְיַבְטִיחַ נַפְשׁוֹ בִּגְמוּל הָעוֹלָם הַזֶּה וְהָעוֹלָם הַבָּא עַל מַעֲשֵׂהוּ, אַךְ יִטְרַח וְיִשְׁתַּדֵּל בְּהוֹדָאָה לְטוֹבוֹת הַבּוֹרֵא הַתְּמִידוֹת עָלָיו, לֹא לְתִקְוַת גְּמוּל עָתִיד שֶׁיִּתְחַיֵּב לוֹ בְּמַעֲשֵׂהוּ.

It is not proper for a person to rely on his good deeds, etc. There are many “layers” within the cosmos that are revealed (in the next world) as reward for Divine service. The revelation of each of these levels generates “pleasure” for the servant of G‑d. However, reward and pleasure are subjective and defined. Serving G‑d for a reward means placing limitations on your service. Therefore, Rambam teaches ( Mishneh Torah Hilchot Teshuvah 10:1) that Divine service should not be performed even for the reward of the World to Come, because even service with the intention of attaining a spiritual reward places limitations on the service.

The ultimate achievement is when the person can leave his limited perspective and become connected to G‑d—not as He is “contracted” into a state of spirituality where the person will experience pleasure, so to speak, from that state; rather, where he connects to the essence of G‑d Himself. This state will be manifest in the ultimate Messianic era, when the body and soul, together, will live in a world where the essence of G‑d is revealed ( Sefer Hamaamarim Melukat, vol. 2, p. 223).

Bottom line
The ultimate achievement is when a person can leave his limited perspective and become connected to G‑d.

He should exert himself and make efforts to do good as a way of thanking the Creator for the constant kindness that He bestows upon him. The translation follows the commentary of Nedar Bakodesh, who understands that the author is referring to doing good deeds as a way of thanking G‑d for His kindness. However, Pat Lechem explains this more literally—that it refers to praising and thanking G‑d in the presence of other people.

Instead, after a person makes efforts to serve G‑d as a way of repaying his obligation to thank the Creator for the great kindness that He bestowed upon him, only then should he trust that G‑d will give him a reward in the World to Come.

אַךְ יִבְטַח עַל הָאֱלֹהִים בּוֹ אַחַר הַהִשְׁתַּדְּלוּת לִפְרוֹעַ הוֹדָאַת הַבּוֹרֵא עַל גֹּדֶל טוֹבָתוֹ עָלָיו,

The author now brings proof from the Mishnah:

As our rabbis of blessed memory said ( Avot 1:3): “Do not be like servants who serve their master so that they can receive reward; rather, be like servants who serve their master without any intention of getting any reward, and the fear of heaven shall be upon you.”

כְּמוֹ שֶׁאָמְרוּ רַבּוֹתֵינוּ זִכְרוֹנָם לִבְרָכָה (משנה אבות א, ג) "אַל תִּהְיוּ כַּעֲבָדִים הַמְשַׁמְּשִׁין אֶת הָרַב עַל מְנָת לְקַבֵּל פְּרָס, אֶלָּא הֱווּ כַּעֲבָדִים הַמְשַׁמְּשִׁין אֶת הָרַב שֶׁלֹּא עַל מְנָת לְקַבֵּל פְּרָס, וִיהִי מוֹרָא שָׁמַיִם עֲלֵיכֶם."

And the fear of heaven shall be upon you. This means that a person should always be aware that he hasn’t fulfilled his obligations in repaying G‑d for all the kindness that He has given him. A person who constantly has this in mind will never serve G‑d for reward.

One of the pious men would say: “A person would not be found deserving of the reward of the World to Come if he was scrupulously accounted for what he owes to G‑d in return for all the kindness performed for him. Rather, it is out of G‑d’s kindness upon him that a person is rewarded. Therefore, do not rely on your good deeds.

וְהָיָה אֶחָד מִן הַחֲסִידִים אוֹמֵר: לֹא יַגִּיעַ הָאָדָם אֶל גְּמוּל הָעוֹלָם הַבָּא בְּמַעֲשֵׂהוּ אִם מְדַקְדְּקִים עִמּוֹ בְּחֶשְׁבּוֹן בְּמַה שֶּׁהוּא חַיָּב לֵאלֹהִים עַל טוֹבוֹתָיו עָלָיו, אֲבָל בְּחֶסֶד הָאֱלֹהִים עָלָיו, עַל כֵּן אַל תִּבְטְחוּ בְּמַעֲשֵׂיכֶם.

A verse is cited as proof that the reward of the World to Come is truly a kindness from G‑d:

About this reward King David said (Psalms 62:13): And You, L-rd, have kindness, for You repay a man according to his deeds.

וְאָמַר דָּוִד בָּזֶה "וּלְךָ אֲדֹנָי חָסֶד כִּי אַתָּה תְּשַׁלֵּם לְאִישׁ כְּמַעֲשֵׂהוּ" (תהלים סב, יג).

This verse implies that even the reward that the person receives in accordance with his deeds is truly a kindness from G‑d.
This completes the explanation of how a person should have bitachon in regard to the sixth category—the reward in the World to Come, which is commensurate with a person’s actions in this world.

The reward. ..is truly a kindness from G‑d. This is because, as stated above, if we take into account the kindness that G‑d does for us in this world, G‑d does not “owe” us anything as compensation for our good deeds. It is only out of His kindness that He also rewards us.

Bottom line
Have you finished repaying G‑d for His kindness to you?