From every death comes life, and with the destruction of the world a new one shall arise. In the Ragnarok prophecy, after the conflagration has ended the Underworld, Jormungrund, will rise up out of the sea to become the new Earth.
This is likely based on the same observations that developed our creation myth, when islands are formed from volcanic activity in the sea and seem to pop up out of nowhere. In this new world Gods and humans will live together to forge a holy alliance that will keep peace for ages to come. Baldur, Nanna, and Hodur will organize the Gods and Goddesses who survived the battle within their new home of Idavoll.
Lif and Leifthrasir gather their children from Odainsacre, where they were preserved during the times of strife. An eagle flies over the beautiful waterfalls to signify the return of animal life. The history of the previous cycle will be discussed, then Hoenir will step forward once again to continue the faith of our forefathers. Vidar and Vali, Magni and Modi prepare themselves to take the next step towards building a new world, and the sun shall be carried by Sol's daughter. The world is reborn, the wheel begins anew.
The one thing that we must keep in mind is that in our faith, as has been stated, death is but a transformation, never an end. Odin, Heimdall, Thor, Frey, and all the Gods and Goddesses are the ordered manifestations of the eternal elements, and thus always are and always shall be, they simply change throughout many different incarnations.
When they were born out of Ginnungagap this was but a rebirth into their current form, and they shall be reborn again. Odin is "the great Godhead, which governs us all. He settles strife, sits in judgement, and lays down laws that will always last" (LXXXIII.5), and he will always return to us.
We see in the lore that humans are reborn after death, Gullveig is reborn three times and Baldur, Nanna, and Hodur live again. Even animals were believed to be reborn, such as those sacrificed in blot or in funerals when they are to follow their masters into the next life. If this is the case, then it demonstrates to us that death is inconsequential.
So, this then begs the question: if nothing truly dies wouldn't the chaotic elements be reborn as well and we would be right back where we started?
The lore reminds us of this very thing when we see Nidhogg, a terrible dragon, flying with a corpse on his wings at the renewal of the worlds. Like a cliffhanger in a movie, this lets us know that the forces of chaos will not be destroyed, and they will return, as is natural.
At this moment, however, Chaos has reached its culmination, and Surt's fires have cleansed the worlds, for fire has always been the great purifier and ward against evil. The Etins unleashed the very force that would destroy them, and set the stage for the renewal at the same time. When fire is unleashed and becomes wild it will burn up everything in its path and is the great agent of Loki, Logi, and other fire-giants. But when it is controlled it is a force of purity, of beauty, and of benevolence, which we burn in our hearth to keep us warm and out of the darkness. This is why Heimdall 'Home-Light' (Hearth- Fire) and Loki 'Wild-Fire' battle and kill one another on the battlefield at Ragnarok. Chaos has reigned, but from it rises convergence, in the same way the forest is reborn after a forest fire: from the destructive flames new life will emerge.
At Ragnarok the elements no longer come together in harmony and balance.
They tore themselves apart and rent the world with them, but from the old comes the new, like when a star explodes to spread its dust about that will build new stars and new worlds.
The universe will strive for that state of perfect balance once again, when Chaos works for the order and vice versa, but on each end of the spectrum there is imbalance where either convergence or entropy will dominate the Spiritual Collective. At times harmony is achieved and convergence wins the day, at other times entropy takes over and everything is ripped apart. What is 'good' and what is 'bad' is irrelevant to the cycle itself, for it simply is. As beings of convergence we strive towards creation and unity, but the interplay of the two is an aspect of fate, which is inherently neutral.
We must accept death so that we can embrace life. We must accept that our planet will one day be destroyed, even our entire universe can fall into disarray, which is why we must make sure that our life and the life of our people and species truly counts. We must work towards a metaphysical significance, both personally and collectively, so that our time in this world matters, so that we matter.
Choose your path, find your way, and always make sure that you are striving for something greater than yourself. Perhaps what I have written here will help guide you on your path, but the rest is up to you.
Will you be an agent of life, or of death? Will you work for the Order, or for Chaos? Will you embrace your identity as a member of a family and a folk, or embrace a cultureless morass entrenched in nihilism? The choice is yours and yours alone to make.