We now end the run-on sentence of this Psalm that started in verse 2. This verse starts by saying that God satisfies our desires with good things. That does not mean He gives us everything we want in life. It means that God does equip us with everything we need in order to live and in order to glorify Him with our lives.
Think about it this way. If we can pray, then we can give God glory for our lives. If we have any sort of blessing in our lives, be it our health, our families, our friends, the beautiful things around us, or even “stuff we have” we can tell God how grateful we have for what we have and realize that any and all blessings we have in life do originate from Him in the first place.
The second concept in this verse is about our youth being renewed. This comes back to the concept of God relieving our guilt for our sins. The physical effects to one's body when one carries the guilt caused by sin in one’s life is often aging. We do not need to carry it but rather lay it at the foot of the cross.
In verse 5, there is an “eagle” reference. The idea is that eagles get to soar high up in the sky. Just as God gives the eagle the ability to soar up in the heavens, He has also lifted us up. He has given us eternal life and therefore, we too like eagles soar high above those who never trust in God in the first place. The idea is that if we trust in God, and have the gift of eternal life, we get to soar (figuratively speaking) like an eagle.