This is a simple diagram to help me consider how God’s riches relate to his blessings in Ephesians. See what you think. Doing this in my meditation on books and larger passages of the Bible has been a sincere joy to me. It slows me down and forces me to think. I hope you will try it, even if it’s imperfect like mine.
A side note: notice the second funnel called “Christ’s Inheritance.” Like the others in the diagram, it is built on a statement about “riches,” although this source of riches is called, “the riches of his [the Son’s] inheritance in the saints” (1:18). We sometimes forget that Jesus Christ receives an inheritance also. He is heir of the nations of believers. He is, as you find in Genesis, the Seed through which a kingdom is built. In Psalm 2, there are different voices for each stanza. In one, the Son is speaking: “I will tell of the decree: The LORD said to me [the Son] . . . . Ask of me, and I will make the nations your inheritance and the ends of the earth your possession . . .” (Ps 2:7-8). We are co-heirs with Christ (Rom 8:17) of the nations of believers and the ends of the earth. Paul, it appears, wants us to open our eyes to these riches given to the Son and active in our lives. It is a channel of many blessings just as his Grace, Mercy and Glory is.
There are other ways to think of this, which you can think through, but this seems the most reasonable to me considering the language — and it is certainly true.