• ātma-ja — born of the self (children)
  Compound: ātma (self) + ja (born). Sons and daughters as 'born of me' — a relationship constructed by ahaṅkāra. Gauḍīyas read children not as extensions of self but as souls entrusted by Kṛṣṇa.
• agāra dāra — home and wife
  agāra (house) + dāra (wife). The two stable poles of gṛhastha identity. The verse does not deny their value — only their finality.
• svapna-kalpeṣu — as in a dream
  Compound: svapna (dream) + kalpa (like). The classical Vedānta image, used here in a personalist key: not 'all is illusion' but 'these items are unstable; You alone are sat'.
• mūḍhaḥ — a fool
  From √muh — to be confused. Akrūra calls himself mūḍha exactly as Prahlāda (SB 7.9) called himself unfit. Gauḍīya stuti convention: self-abasement opens the door for the Lord's mercy.
• satya-dhiyā — with the conviction that they are real
  Compound: satya (real) + dhī (intelligence). The misallocation of satya — taking the perishable for the permanent. The verse names the exact category-error of conditioned life.

A man dreams he has a wife, a house, a fortune, retinues, an empire — and he weeps when in the dream he loses any of them. The whole inventory is real-feeling and unreal in being. Akrūra confesses he too has been such a dreamer, treating his body, his family, his goods as if they were sat.