1. Praise the Lord! Fortunate is the man who fears the Lord, and desires His commandments intensely.
2. His descendants will be mighty on the earth; he will be blessed with an upright generation.
3. Wealth and riches are in his house, and his righteousness endures forever.
4. Even in darkness light shines for the upright, for [He is] Compassionate, Merciful, and Just.
5. Good is the man who is compassionate and lends, [but] provides for his own needs with discretion.

Tehillim Ohel Yoseph Yitzchok (Kehot Publication Society)

Tehillim is recited by Jewish people collectively and individually, as the desire occurs to offer praise and thanksgiving to G-d; or alternitavely, in times of crisis and need, as a form of supplication, and even as a venue to express regret for sin.

6. For he will never falter; the righteous man will be an eternal remembrance.
7. He will not be afraid of a bad tiding; his heart is steadfast, secure in the Lord.
8. His heart is steadfast, he does not fear, until he sees his oppressors [destroyed].
9. He has distributed [his wealth], giving to the needy. His righteousness will endure forever; his might will be uplifted in honor.
10. The wicked man will see and be angry; he will gnash his teeth and melt away; the wish of the wicked will be ruined.