So you dont believe in Heaven? And "the meek shall inherit the earth" is about being rewarded later, both here on earth and in Heaven.
There are "other" versions of Psalms that you quoted:
Refrain from anger and turn from wrath;
do not fret—it leads only to evil.
9 For those who are evil will be destroyed,
but those who hope in the Lord will inherit the land.
10 A little while, and the wicked will be no more;
though you look for them, they will not be found.
11 But the meek will inherit the land
and enjoy peace and prosperity. link
Psalms is all about people's actions on earth and how/what they earn in His Sight. Nowhere does God ever say nobody dies. Everybody dies and the righteous and forgiven go to Heaven.