##  in his beloved one ##

"in God's beloved one, Jesus Christ"

## we have redemption ##

"We refers to all believers. (See: [[rc://en/ta/man/translate/figs-inclusive]])

## riches of his grace  ##

"greatness of God's grace" or "abundance of God's grace"

## in all wisdom and understanding ##

God has given believers great wisdom and understanding. Alternate Translation "much wisdom and understanding."