“This World;” the world in which we live, where each of us is given the opportunity to honor the Name of Hashem by performing “Mitzvot,” commands of G-d, and learning and teaching Torah, according to his or her gifts, and behaving in an honest and decent manner with our fellow human beings.
A vote was taken in the Talmud as to whether it was to the advantage of Man to have been created. The result of the vote was that it was not to his advantage. However, since he or she was created, it was their obligation to carefully examine their behavior.
According to Rabbi Yaakov, one of the great Tannaim, one should view the relationship of “Olam HaZeh” to “Olam HaBa” as that of an “entrance” or “anteroom” to a “Palace.” Prepare yourself in the entrance, advises Rabbi Yaakov, so that you will be admitted to the “Palace.”(Chapter 4: Mishnah 21)