For follow-up discussion and general commentary on the topic. Comments are sorted chronologically.
Romans 6:23 For the wages of sin is death, but the GIFT of God is eternal life.
The only thing we have to do to receive the free gift of eternal life, is to believe on the one He has sent. John 6:40. That is why it is free. If we had to do anything to receive the free gift, then we would have something to boast in. Romans 3:26-28.
Eternal life is a free gift given by the giver who paid for the gift.
No one can earn or lose eternal life. The GIFT of God is eternal life.
But now that we are saved we can earn rewards in heaven. First Corinthians 3:11-15. If we have no works, we are still saved because works can not save a sinner. We are justified by a one time faith alone in Christ alone apart from any works.
Galatians 2:21 I do not void the grace of God, if righteousness come by the law, then Christ is dead in vain. And good works never saved one person.
But now, if a child of God, John 1:12, goes off and lives in sin, God does chasten His children. Those who have received His free gift of eternal life are saved, but can be chastened even to death. First Corinthians 5:5. But God can not go back on His word. John 6:47.
First John 1:8 We are all sinners to a degree, because we are not perfect in the flesh. Romans 7. Paul said He was yet carnal. We all do things we wish we had not done, but you can not go back and change the past. We should press on for the prize, rewards in heaven. We already have eternal life.
Romans 4:5 But to him that worketh not, but believeth on Him who justifieth the ungodly, his faith is counted for righteousness. The GIFT of God is eternal life. Apart from any works.
Our works can not save sinners. Romans 11:6 All grace, no works. Free gift by a one time faith alone for the free gift of eternal life. John 6:47. Gods word, and He can not lie. Romans 1:16 For I am not ashamed of the gospel of Christ, for it is the POWER of God unto salvation to everyone that believeth, to the Jew first, and also to the Greek.
First Corinthians 15:1-4 Is the gospel. John 3:16-18 Is the gospel. First John 2:2 Is the gospel. The GIFT of God is eternal life by a one time faith alone in Jesus finished work on the cross alone apart from any works we do or do not do. Romans 3:26-28 Justified by faith means just as if I never sinned.
Five words that saved us. Christ died for our sins. All of them forever. John 3:18. We have to do nothing to save us, except believe on Jesus, and we have to do nothing to stay saved. John 10:28-29.
Ephesians 2:8-9 For by grace ye are saved, through FAITH, and that not of yourselves, it is the GIFT of God, not of works, lest any man should boast. Faith is not the gift. Eternal life is the gift when we believe it. It is faith apart from works.
First John 5:13 These things have I written unto you that BELIEVE on the name of the Son of God, that ye may KNOW YE HAVE ETERNAL LIFE. The GIFT of God is eternal life. Paid for by the giver who paid our sin debt in full so we could no longer be condemned. John 3:18.