The nation of Israel will inherit the Earth during the millennial kingdom, as promised to Abraham by God (Genesis 17:8, Matthew 5:5)
The Body of Christ will inherit the heavens during the same period (Ephesians 1:3)
They are two distinct groups.
There are two groups- lost and saved. There will be Jew and Gentiles in both groups.
The lost will face judgment and eternal condemnation (death) and the saved will reign with Jesus for eternity, including the millennium.
Revelation 20:4 And I saw thrones, and they sat on them, and judgment was committed to them. Then
I saw the souls of those who had been beheaded for their witness to Jesus and for the word of God, who had not worshiped the beast or his image, and had not received
his mark on their foreheads or on their hands. And they lived and reigned with Christ for a thousand years. 5
But the rest of the dead did not live again until the thousand years were finished. This is the first resurrection. 6 Blessed and holy
is he who has part in the first resurrection. Over such the second death has no power, but they shall be priests of God and of Christ, and shall reign with Him a thousand years.
The saints reign with Christ for the millennium, those who are in Christ and are saved.
The rest of the dead who are not saved did not live again until the thousand years were finished
Revelation 20:5
“All who are in the graves will hear His voice and come forth—those who have done good, to the resurrection of life, and those who have done evil, to the resurrection of condemnation” (
John 5:28-29)
Only those in Christ will be saved, those who are living and not saved at the time of Christ Second Coming will all perish.
With the breath of His lips He shall slay the wicked” (
Isaiah 11:4).
“When the Lord Jesus is revealed from heaven with His mighty angels, in flaming fire taking vengeance on those who do not know God” (
2 Thessalonians 1:7, 8).
“Let the wicked perish at the presence of God” (Psalm 68:2).
“The rest of the dead did not live again until the thousand years were finished” (
Revelation 20:5)
Satan and his angels at this time will be bound on the earth with no one to tempt.
“I saw an angel coming down from heaven, having the key to the bottomless pit.
He laid hold of the dragon, that serpent of old, who is the Devil and Satan, and bound him for a thousand years; and he cast him into the bottomless pit ... till the thousand years were finished” (
Revelation 20:1–3).
Bottomless pit means abyss. The earth will be void and desolate at this time.
Jeremiah 4:23,25, 28
Isaiah 24:22 They will be gathered together,
As prisoners are gathered in the pit,
And will be shut up in the prison;
After many days they will be punished.
After the 1000 years of peace for the saints, Jesus will come again for the wicked
To be judged and destroyed along with satan and His angles and there will be sin no more.
“Fire came down from God out of heaven and devoured them. The devil, who deceived them, was cast into ... the lake which burns with fire and brimstone, which is the second death” (
Revelation 20:9, 10; 21:8).
“ ‘The wicked ... shall be ashes under the soles of your feet on the day that I do this,’ says the Lord of hosts” (
Malachi 4:3).