1 Timothy 6:12-19
12 Fight the good fight of faith, lay hold on eternal life, whereunto thou art also called, and hast professed a good profession before many witnesses.
13 I give thee charge in the sight of God, who quickeneth all things, and before Christ Jesus, who before Pontius Pilate witnessed a good confession;
14 That thou keep this commandment without spot, unrebukeable, until the appearing of our Lord Jesus Christ:
15 Which in his times he shall shew, who is the blessed and only Potentate, the King of kings, and Lord of lords;
16 Who only hath immortality, dwelling in the light which no man can approach unto; whom no man hath seen, nor can see: to whom be honour and power everlasting. Amen.
17 Charge them that are rich in this world, that they be not highminded, nor trust in uncertain riches, but in the living God, who giveth us richly all things to enjoy;
18 That they do good, that they be rich in good works, ready to distribute, willing to communicate;
19 Laying up in store for themselves a good foundation against the time to come, that they may lay hold on eternal life.
The Grace New Testament Commentary - 1 Timothy 6:19
6:19 The rich person's treasure should be in the life to come. That is where he should be laying it up. They are already rich in this present age (v 17). But will they be rich in the time to come?
As Paul commanded Timothy himself in v 12, now he commands rich believers (through Timothy) to lay hold on eternal life. Verse 19 helps interpret v 12. The way one lays hold on eternal life is by storing up for oneself a good foundation for the time to come by being rich in good works and by giving and sharing. In this way, rich believers may in the life to come have a full experience, an abundant experience, of eternal life.
Charles Bing - Grace, Salvation, and Discipleship - Laying Hold on Eternal Life, 1 Timothy 6:17-19
(Salvation) Interpretation: Those who are rich in good works will earn eternal life.
(Discipleship) Interpretation: Those who are rich in good works will enjoy a divine quality of life.
This is a word to those who are under Timothy's care who are rich. It is not a word about how Timothy should treat all unbelievers or all believers. Evidently, these rich people are believers because 1) They are associated with Timothy, 2) Doing good works, giving, and sharing are Christian virtues, 3) The "time to come" is mentioned in a positive way as a certainty.
Some may view this as (a Salvation passage) because of the last phrase "that they may lay hold on eternal life," as it is translated in the NKJV. However, the word "eternal" is not in the Greek text. Most of the major translations agree in meaning with the ESV, "that which is truly life" (cf. the NET Bible, NASB, NIV). In 1 Timothy 6:12, the word "eternal" is used when Paul says, "Fight the good fight of faith, lay hold on eternal life." But the point of both passages is similar. Paul's exhortation to Timothy in 1 Timothy 6:19 is that wealthy believers should not find their significance in uncertain riches, but in God and in serving him. To make God the focus of one's life is truly life. It is enjoying one's relationship with God obtained in salvation, an abundant life (John 10:10; 17:3).
Storing up a good foundation speaks of rewards in the future, or as Jesus puts it, laying up treasures in heaven (Matt. 6:20). It would be odd to refer to obtaining eternal life by this language. "Foundation" (themelios) has the idea of something that gives stability like a reserve or a treasure. The "time to come" is not spoken of in verse 19 as a possibility, but a certainty. What is conditional (expressed by the subjunctive mood) is the laying hold of "that which is truly life."
This important (Discipleship truth) teaches us that all believers face a future in heaven and the kingdom of God, but some believers will have a better treasure waiting for them. We might say that those believers "send their riches ahead." They are the ones who also have learned to focus their present lives on God, not their riches, and enjoy a richer experience of life with Him.