James Chapter 5 Verses 1-5...

Misuse of Riches

5 Come now, you rich people, weep and howl for your miseries which are coming upon you. 2 Your riches have rotted and your garments have become moth-eaten. 3 Your gold and your silver have corroded, and their corrosion will serve as a testimony against you and will consume your flesh like fire. It is in the last days that you have stored up your treasure! 4 Behold, the pay of the laborers who mowed your fields, and which has been withheld by you, cries out against you; and the outcry of those who did the harvesting has reached the ears of the Lord of armies. 5 You have lived for pleasure on the earth and lived luxuriously; you have fattened your hearts in a day of slaughter.

Verse 1:

Another version uses the word wealthy instead of rich.

It was first woe to the worldly but then woe to the rich.

The rich will be sad and be in misery literally. 

13 Come now, you who say, “Today or tomorrow we will go to such and such a city, and spend a year there and engage in business and make a profit.” James 4:13

Verse 2:

The riches being rotted refers to the riches being corrupt.

The garment being moth-eaten refers to the costly garments that the rich have, and they will not pride themselves on those clothes but may be eaten by moths and worms.

28 While am decaying like a rotten thing,

Like a garment that is moth-eaten. Job 13:28

Verse 3:

Some versions use cankered, eaten away, or rusted instead of corroded.

The gold and silver will not be usable because of the damage that was incurred to it.

 This will be a witness to the rich. 

This part of the verse talks about a fire that will consume you, this is a sign that will happen in the day of judgment.

Exhortation

7 Therefore be patient, brothers and sisters, until the coming of the Lord. The farmer waits for the precious produce of the soil, being patient about it, until [a]it gets the early and late rains.

Verse 4:

The first part of verse 4 talks about laborers and refers to the laborers' lives and are nourished-they have what they need.

The second part of the withheld by you refers to what the owner/rich kept back from the workers and what they were due.

Cries out against you is God's vengeance and the justice of God that he will do towards such people.

Reach the ear of the Lord of armies is talking about what has happened the Lord of hosts in heaven and on earth has heard what has happened.

Judgment.

13 ‘You shall not oppress your neighbor, nor rob him. The wages of a hired worker are not to remain with you all night until morning. Leviticus 19:13

Verse 5:

you have lived worldly; you have sought the pleasures of earth.

You have nourished your hearts with things of the flesh.

Day of slaughter refers to the day of their destruction.

49 Behold, this was the guilt of your sister Sodom: she and her daughters had arrogance, plenty of food, and carefree ease, but she did not help the poor and needy. Ezekiel 16:49