Ephesians 1:7
We have redemption through his blood, the forgiveness of sins, according to the riches of his grace.
We are redeemed through the shedded blood of Jesus Christ. His atoning blood gives Christ power to forgive us of our sins and imperfections. Jesus’ blood atoneth for us; we just need to apply the atoning blood of Christ into our lives through obedience to the commandments and ordinances in order for the power of the atonement to take effect in us; otherwise, we remain in our sins and fall short of the glory of God.
Jesus’ grace makes us feel rich. As we are forgiven of our sins, we become reconciled to God, and we feel peace. The peace of Christ makes us feel rich toward God, and growing rich toward God is the only true form of being rich, for herein we have potential to experience the riches of eternity in the Celestial Kingdom with Heavenly Father, Jesus Christ, the Holy Ghost, family and friends. This is exaltation, living forever in the hereafter the life that God lives now. It is all possible because of the infinite blood atonement and sacrifice of our Lord and Savior, Jesus Christ. I know this is true.
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