"Because the Lord disciplines those he loves, and he chastens everyone he accepts as his child."
NIV
For the Lord corrects and disciplines everyone whom He loves, and He punishes, even scourges, every son whom He accepts and welcomes to His heart and cherishes.
AMP
For whom the Lord loveth he chasteneth, and scourgeth every son whom he receiveth.
KJV
"Blessed are those whom God corrects; so do not despise the discipline of the Almighty."
NIV
Happy and fortunate is the man whom God reproves; so do not despise or reject the correction of the Almighty [subjecting you to trial and suffering].
AMP
Behold, happy is the man whom God correcteth: therefore despise not thou the chastening of the Almighty:
KJV