The term "begotten again" or "born again" refers to spiritual birth - the Holy Spirit's act of bringing believers into God's family. Jesus used this term when he explained salvation to Nicodemus (John 3).
Our hope is not only for the future: eternal life begins when we believe in God & join his family. No matter what pain or trial we face in this life, we know it is not our final experience. One day we will live with Christ forever.
Christians now look forward to a family inheritance in the eternal city of God.
God will help us remain true to our faith, whatever difficult times we must face.
Peter mentions suffering several times in this letter 1:6,7,; 3:13-17; 4:12-19; 5:9. When he speaks of trials, he is not talking about natural disasters or God's punishments, but the response of an unbelieving world to people of faith. All believers face such trials such trials when they let their light shine into the darkness. Trials teach us patience & help us grow to be the kind of people God wants us to be.
As gold is heated, impurities float to the top & can be skimmed off. Likewise our trials, struggles, & persecutions strength our faith & make us useful to God.
Reference summary used from the Life Application Bible KJV, Tyndale House Publishers, Inc., Wheaton, Illionis