For the kingdom of heaven is like unto a man that is a householder (farmer), which went out early in the morning to hire laborers into his vineyard. And when he had agreed with the laborers for a penny a day (average day's wage), he sent them into his vineyard.
(The farmer went out to hire some folks to work in his vineyard and they agreed to make an average day's wage for working a long day)
And he went out about the third hour, and saw others standing idle in the marketplace, And said unto them; Go ye also into the vineyard, and whatsoever is right I will give you. And they went their way.
(The farmer went out and hired even more people to work his vineyard)
Again he went out about the sixth and ninth hour, and did likewise. And about the eleventh hour he went out, and found others standing idle, and saith unto them, Why stand ye here all the day idle? They say unto him, Because no man hath hired us. He saith unto them, Go ye also into the vineyard; and whatsoever is right, that shall ye receive.
(and the farmer hired more workers at the 6th hour, 9th hour, and 11th hour, which was about noon, 3 PM, and 5 PM)
So when evening was come, the lord of the vineyard saith unto his steward, Call the laborers, and give them their hire, beginning from the last unto the first. And when they came that were hired about the eleventh hour, they received every man a penny.
(The farmer paid everybody the same no matter what time they started their work)
But when the first came, they supposed that they should have received more; and they likewise received every man a penny. And when they had received it, they murmured against the goodman of the house, Saying, These last have wrought but one hour, and thou hast made them equal unto us, which have borne the burden and heat of the day.
(The laborers who started early in the day grumbled, because they felt like they should have made more than the folks who started late in the day)
But he answered one of them, and said, Friend, I do thee no wrong: didst not thou agree with me for a penny (an average days wage)? Take that thine is, and go thy way: I will give unto this last, even as unto thee.
(The farmer says that no matter if you worked early or late, you agreed to the pay that we negotiated on)
Is it not lawful for me to do what I will with mine own? Is thine eye evil, because I am good? So the last shall be first, and the first last: for many be called, but few chosen...
— Matthew 20:1–16
I have put, in parenthesis, the meaning of the phrases throughout this parable in an effort to make it easier to understand. Jesus says the kingdom of God is like this farmer who paid everyone the same no matter when they started for the day. If they showed up at any point they got paid the same wage, even if it was the last hour of the day.
The interesting part of this parable is that it uses an example that is unrealistic in nature. That is what makes this parable hit home. God is not a human and has ultimate grace and compassion for us. The meaning of this parable is that no matter when we come to the Lord, whether it was as a child, today, or the last hour of our lives, the Lord will accept us. Even with such amazing grace, still few will actually be chosen, because so many will reject the Lord during their life. God is like an unrealistic farmer who gives us fair riches no matter when we show up. How wonderful our God is! If you have never asked Jesus to come into your life, all you have to do is ask him to take over your life and request forgiveness of your sins (repent) and you will be entered into his flock and saved from eternal death. So beautiful.