ANSWER: This passage can be read, "Lay hold on what is really life." It is in contrast with the mind being set on present things. From verses 17 to 19 those who are rich are addressed to not let their minds be set on their riches, nor trust to their riches, but to the living God who gives us richly all things to enjoy. It shows their privilege to use their money in view of eternity. By this means they will lay hold of what is really life in the sense of real enjoyment of life in communion with God.
Verse 14 refers to the good confession Timothy had confessed before many witnesses. He is to keep it without spot and unrebukable, so that in the day of Christ's appearing, the day of manifestation, it will have His approval.
God Reveals Not His Things "to the Wise and Prudent" but Unto "Babes." It Is Not the Strength of Man's Mind Judging About "the Things of God" That Gets the Blessing From Him; It Is the Spirit of the Babe Desiring "the Sincere Milk of the Word." the Strongest Mind Must Come to the Word of God As the Newborn Babe.