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Now
This word marks a break in the teaching. Here Paul returns to the topic about those who think being godly will make them wealthy (See: 1 Timothy 6:5).
to become wealthy fall into temptation, into a trap
Paul speaks about those who let the temptation of money cause them to sin as if they are animals that have fallen into a hole that a hunter has used as a trap. AT: "to become wealthy will encounter more temptation than they can resist, and they will be like an animal in a trap (See: rc://en/ta/man/translate/figs-metaphor)
They fall into many foolish and harmful passions
This continues the trap metaphor. This means that their foolish and harmful passions will overcome them. AT: "And as an animal falls into a hunter's trap, they will fall into many foolish and harmful passions" (See: rc://en/ta/man/translate/figs-metaphor)
into whatever else makes people sink into ruin and destruction
Paul speaks about those that let sin destroy them as if they are a boat that sinks under the water. AT: "into other kinds of evil that ruin and destroy people as if they were a boat sinking under the water" (See: rc://en/ta/man/translate/figs-metaphor)