“In understanding be men” (1 Cor. 14:20)
When it comes to the study of last things (eschatology), there are three major views. All three revolve around the return of Jesus Christ in relation to the millennium (Latin mille “thousand” plus annus “year”).
Premillennialism is the belief that the second coming of Christ will occur before His literal reign of one thousand years on earth (Rev. 20:1-6). After His coming in power and glory, Christ will personally reign from Jerusalem, producing a time of peace, prosperity, and righteousness. Premillennialists see the present era as the church age, which is a separate and distinct work in God’s plan from that of His dealings with Israel.
Amillennialism teaches that Christ’s millennial kingdom extends from His resurrection to the time of His second coming at the end of this age. At no time will Christ reign on the earth in Jerusalem. There is no literal thousand-year reign. National Israel has been permanently rejected by the Lord and the church has taken her place and inherited her promises. After the second coming of Christ, there will be a final general resurrection and single judgment of all mankind.
Postmillennialism is the view that Christ will return at the end of an extended period of righteousness and prosperity (the millennium). Like the amillennialist, the postmillennialist sees the current age as the kingdom of God. However, they see the reign of Christ not just in the hearts of believers today but as affecting society. Postmillennialists believe that since the kingdom was established at Christ’s first coming, it is currently being expanded through the preaching of the gospel, and, some would say, social effort, until an overwhelming majority, though not all, will be converted to Christ, issuing in a golden age on earth.
In recent years, a fourth viewpoint, preterism, has gained popularity. Preterism teaches that most, if not all, biblical predictions have already been fulfilled in conjunction with the destruction of Jerusalem in A.D. 70. Some preterists go so far as to maintain that the second coming of Christ occurred at that time.