Kam jante the hum bhi gham-e-ishq ko, par ab
Inexperienced me had a reduced idea about perils of love
Dekha, to kam hu-e pe gham-e-rozgar tha
I realized: when love sorrows ebb, mundane sorrows surround
Gham-e-ishq=love perils Gham=trouble, sorrow, pain gham-e-rozgar=sorrows of livelihood
Meaning Having zero inexperience in love, I underestimated its perils. However, when my love ebbed, all other livelihood problems surrounded me. Then only, I realized that no worldly perils came close to love pain; love pain rules supreme. In one other verse Ghalib says, “Gham-e-ishq na hot to ghame-e-rozgar hota” meaning if love problems had not befallen on me, livelihood problems would have surrounded me. It is better having one sorrow, love, than having millions mundane sorrows.
When one chases his goal with single mindedness, he forgets the world and its problems. However, when one fails, or gives up that goal, he feels vacuum. He realizes that now he has to faces other challenges, sorrows of world.
Finer aspects of this verse: Ghalib does not repeat words in a verse. In this verse, Ghalib has repeated Kam and Gham. However, he uses both words as compound words and as phrases. Such usage is permitted.