Passage
The elders which [are] among you I exhort, who [am their] fellow-elder and witness of the sufferings of the Christ, who also [am] partaker of the glory about to be revealed:
The elders which [are] among you I exhort, who [am their] fellow-elder and witness of the sufferings of the Christ, who also [am] partaker of the glory about to be revealed:
1 Peter 5:1 The elders which [are] among you I exhort, who [am their] fellow-elder and witness of the sufferings of the Christ, who also [am] partaker of the glory about to be revealed:
1 Peter 5:2 shepherd the flock of God which [is] among you, exercising oversight, not by necessity, but willingly; not for base gain, but readily;
1 Peter 5:3 not as lording it over your possessions, but being models for the flock.
The verse centers on "elders", "exhort", "fellow-elder", "witness", "sufferings", "christ", "partaker", and "glory". It is saying that the verse draws attention to "elders" and "exhort", so its meaning should be read from those terms before moving to application.
The next verse adds "shepherd the flock of God which is...", so "elders" and "exhort" should be read forward into that movement. In 1 Peter context, the local focus is hope in suffering, holy conduct, submission, and grace.
A plain takeaway is to answer the verse's own emphasis on "elders" and "exhort" with trust shaped by these words, not by a vague optimism outside the passage.