to an incorruptible and undefiled inheritance that doesn't fade away, reserved in heaven for you,
reserved in heaven for you: The inheritance is on "reserve" ("to guard, keep, preserve"--(Vine, Vol. III 285). It is not a thing now available. God is preserving this inheritance, and the wonderful thing about it is that it is reserved in heaven (John 14:1-2). It is not on this earth, either now or later. He does not speak of any kind of an earthly kingdom or of a millennium. Peter makes his point clear. The inheritance is "in heaven."