“How could Peter say to the Jews that their inheritance is reserved for them in heaven (I Pet. 1:4) if their hope is earthly?”
When the disciples thought “that the kingdom of God should immediately appear (Luke 19:11), the Lord told a parable. The “certain nobleman” (Luke 19:12) represents the Lord Himself, who went to the “far country” of heaven at His ascension (Acts 1:9) “to receive for himself a kingdom, and to return.” This means that the kingdom that will eventually be established for Israel on earth was reserved for them in heaven at that time.
Before leaving, the nobleman charged his servants with conducting his business while he was gone (Luke 19:13), a picture of how the Lord left His disciples in charge of His ministry after He left. But after the “citizens” of Israel killed the Lord, they “sent a message after Him” (Luke 19:14) by killing Stephen, a message that said, “We will not have this man to reign over us.”
When the nobleman “was returned, having received the kingdom” (Luke 19:15), he gathered his servants to reward them according to their faithfulness (Luke 19:15-27). This speaks of how, when the Lord returns to the earth, He will return with the kingdom that is currently “reserved in heaven” for Israel, and He will award positions in the government of the kingdom to faithful Jews at that time. source