John Gill Commentary Psalms 37:34

"Wait for Jehovah, and keep his way, And he will exalt thee to inherit the land: When the wicked are cut off, thou shalt see it." — Psalms 37:34 (ASV)

Wait on the Lord
In the way of his appointments and ordinances; where may be learned the design of his providences, and of the prosperity of the wicked, and their end, (Psalms 73:16–18) ; and in a providential way, for the performance of his promises, in which he never fails; and patiently bear whatever he is pleased to lay upon them; waiting for a deliverance out of every affliction, which will be in his own time. The Chaldee paraphrase "trust in the word of the Lord;"

and keep his way :
which he has pointed out in his word, and has directed his people to walk in; though tempted by Satan to turn aside to the right hand or the left; though wicked men reproach, persecute, and seek to pervert it; and though a narrow and rough way, yet keep constantly in it, in which there are both pleasure and profit; good comes of it, and in it peace is had, and the presence of God enjoyed;

and he shall exalt you to inherit the land :
that is, shall raise out of a low and uncomfortable situation of life to a more comfortable one; or however, hereafter, to dwell in the new heavens and new earth, to reign with Christ upon his throne, and to enjoy the eternal inheritance;

when the wicked are cut off ;
as in (Psalms 37:9Psalms 37:22Psalms 37:28) ;

you shall see [it] ;
with joy and pleasure; not as exulting: in the destruction of the wicked, simply considered; but as the glory of divine justice is displayed therein; see (Psalms 52:5Psalms 52:6) .