2 both low and high, rich and poor alike:

Matthew Henry's Commentary on Psalm 49:2

Commentary on Psalm 49:1-5

(Read Psalm 49:1-5)

We seldom meet with a more solemn introduction: there is no truth of greater importance. Let all hear this with application to ourselves. The poor are in danger from undue desire toward the wealth of the world, as rich people from undue delight in it. The psalmist begins with applying it to himself, and that is the right method in which to treat of Divine things. Before he sets down the folly of carnal security, he lays down, from his own experience, the benefit and comfort of a holy, gracious security, which they enjoy who trust in God, and not in their worldly wealth. In the day of judgment, the iniquity of our heels, or of our steps, our past sins, will compass us. In those days, worldly, wicked people will be afraid; but wherefore should a man fear death who has God with him?