ईशावास्यमिदं सर्वं यत्किञ्च जगत्यां जगत् ।
तेन त्यक्तेन भुञ्जीथा मा गृधः कस्यस्विद्धनम् ॥ 1 ॥
aum isaavaasyamidam sarvam yatkincha jagatyaam jagat
tena tyaktena bhunjithaa ma gridhah kasyasviddhanam

 

Here is the popular translation from Sacred Texts website:
(http://www.sacred-texts.com/hin/sbe01/sbe01243.htm)

1. ALL this, whatsoever moves on earth, is to be hidden in the Lord (the Self). When thou hast surrendered all this, then thou mayest enjoy. Do not covet the wealth of any man!

Let’s check the meaning of each word:

Isa (ईश) - God
avasyam (अवश्यम्) - Certainly
vasyam (वास्यम्) - Resides/Lives
idam (इदम्) - This
sarvam (सर्वम्) - All
yatkincha (यत्किञ्च) - yad + kinchitah (यद् + किञ्चितः) - "Though little”/"However little"
jagatyaam (जगत्याम्) - "Of World" or Worldly
jagat (जगत) - World/Universe

tena (तेन) - Thus/Therefore
tyaktena (त्यक्तेन) - Abandon, Give up
bhunjithaa (भुञ्जीथा) - Enjoy (ed)/Entertain (ed)
maa (मा) - Do Not
gridhah (गृधः) - Greed, Crave
kasyasvid (कस्यस्विद) - kasya + svid (कस्य + स्विद्) - "Whose Ever" or Whoever's
dhanam (धनम्) - Wealth

Now let look at each major composite words one by one:

Isaavaasyam (ईशावास्यम्): This word might have two translations; Isa + avasyam (ईश + अवश्यम्) or Isaa + vaasyam (ईशा + वास्यम्). First translation Isa + avasyam, means "God indeed" or "Certainly God" (I am using the word "God" just for general understanding, it is not intended to any specific traditional-religious means); whereas second translation Isaa + vaasyam, can again have two meanings, "God resides/lives" or “Resides/lives within God”. Although all translations are pointing towards somewhat similar meaning, but my personal view goes with the first one for two major reasons, first if we take second meaning then for "God" it uses Isaa (ईशा), and Isaa is not a word, it is just Isa (ईश) (although this same logic goes against avashyam in first translation). The second major argument is the invocation verse of this Upanishad, purnamadah ....... ; in that verse it is clearly stated purnam+idam (पूर्णम् + इदम्), means "this IS absolute". Thus this word might be just affirming the first invocation verse, by saying "God indeed" or "Certainly God". But everyone is free to choose any meaning.

yatkincha (यत्किञ्च): This word is made by two words: yad + kinchitah (यद् + किञ्चितः). yad can be translated as Though {as in yad-api (यदपि) - Even though}; and kinchitah means, small, few, little.

 

jagatyaam (जगत्याम्): "Of World" or Worldly (or Sensible ?)

tyaktena (त्यक्तेन): Abandon, Give up. This word is derived from tyakta (त्यक्त), which means Abandoned.

bhunjithaa (भुञ्जीथा): Enjoy(ed)/Entertain(ed). This word is one of the key word. If it means Enjoy/Entertain, then the whole meaning is quite different; and if it means Enjoyed/Entertained, then meaning goes different.

kasyasvid (कस्यस्विद): This word is again made by two words; kasya + svid (कस्य + स्विद्); where kasya means Whose, and svid is affirming, thus making the meaning as, "Whose Ever" or Whoever's. Certainly this "whoever's" includes "self's".

Based on the above translations, we can draw these simple meanings:

God resides in this all / All this resides in God / This all is God indeed,
However little worldly world,
Thus abandon enjoyed / Thus abandon (and) enjoy,
Do not be craved by whoever's wealth.

Base on the above, few factors can be analyzed:

• First line/sentence of this verse is presented as a statement of fact by the Upanishad, because no any word used, suggests otherwise. As the meaning from Sacred Texts website suggests, ALL this, whatsoever moves on earth, is to be hidden in the Lord. Why ‘is to be’?
• First sentence of this verse is a statement of fact and second sentence is the conclusion and advice drawn from that fact. This can be proved because of the use of ten (तेन) – Thus, at the beginning of second sentence.
• If the meaning of bhunjithaa (भुञ्जीथा) is enjoy, then over all meaning is an advice that, everything is God, so enjoy but don’t get attached. Where as if the meaning of bhunjithaa (भुञ्जीथा) is enjoyed, then over all meaning is quit different, which goes like, everything is God, so abandon enjoying. First meaning can be preferred, because it is illogical to say everything is God and then ask to abandon it.

As a conclusion I’d like to say, our efforts to regain ancient texts should be, to access word by word translation, not the over all meaning defined by someone. Now we are more capable to draw our own meanings.