Quick answer
What he was counting on does not survive him. The verse is about the durability of an expectation, not about the state of the dead.
Read both lines
Both lines say one thing, and the repetition is the emphasis: an expectation built on a wrong life has no shelf life beyond the person holding it. In its own setting the claim is observational rather than doctrinal. A man's plans, his leverage, his arrangements, and whatever he was going to get away with all stop at the same moment he does. The verse says nothing about what happens after death, and the book generally does not; it says that a certain kind of hope turns out to have been temporary, which is a comment on the hope rather than a map of anything else.
Related: Proverbs 10:28 · Proverbs 11:23 · Psalm 49:16–17
New King James Version®, Copyright © 1982, Thomas Nelson. All rights reserved. Full copyright information. Scripture provided by API.Bible.
Go Deeper
If this verse has been used to put weight on you that it was never carrying, ask about it directly.