I am intrigued by the fact that this does not say we will be guarded from trouble or persecution. It indicates instead that our salvation is guarded by God's power through faith.
he has caused us to be born again...who by God’s power are being guarded through faith for a salvation ready to be revealed in the last time...In this you rejoice, though now for a little while, if necessary, you have been grieved by various trials, so that the tested genuineness of your faith—more precious than gold that perishes though it is tested by fire...
If God has genuinely saved you and me we will have trials and the purpose of those trials is to prove the genuiness of our faith. God will guard the salvation of our souls through these crises of faith that we will endure.
Many preachers make the mistake of "selling" Jesus to people on the premise that He will take care of all their problems. He will fix a broken marriage. He will fix your financial problems. He will heal your body. They make becoming a Christian look like some sort of fairy land.
Sorry Charley, but that is heresy. For many people the trouble starts when they are saved. Those Christians in the Middle East and beyond are exiles. They are persecuted for their faith. One day we may be called upon to suffer in a similar fashion. The good news is that God will guard the souls of His people through it, refine their faith, prove their faith as genuine and wean them off the world to cause them to look for the prize of the high calling of God. God will guard our souls in the fire of trials.