There are consequences if we choose to serve the Lord.

1 Peter 1:17

If you invoke as Father the one who judges all people impartially according to their deeds, live in reverent fear during the time of your exile.

Peter continues in his call to action for his readers.  They have been called upon to discipline themselves, to be holy as their Father in heaven is holy.  Now Peter turns to what it will mean if they will seriously take upon themselves the responsibility of the Father who art in heaven…

If you invoke as Father-  This is the challenge they are called upon to take in order to serve the Lord Jesus Christ.  What does it mean if they dare to follow through?

the one who judges all people impartially-Herein we consider God as Judge.  What truly does that mean in the context of Jesus?

according to their deeds,-Such is the mode of our judgment.  Peter draws back to the earliest of Scripture to lay down who it is that we serve.

live in reverent fear-So then, this is the formula for living if we are willing to invoke God the Father.  Are we willing?

during the time of your exile.-This is a new consideration.  Peter has not yet spoken to us of the consequences of service to our God.  What does it mean to be in exile, in this context?

We have taken the next step here.  Peter opens his letter with a review of who Jesus is and the power contained in our Lord and Master.  Then he offers a call to serve to those to whom he has shared the gospel.  Now we get from him his sense of what it is going to mean for us to dare to be servants of the Lord Jesus Christ.  Is it something we are willing to do?