And above all these things, put on love, which the bond of unity that has been brought to the goal. And let the peace of Messiah rule in your hearts, to which indeed you were called in one body; and be thankful. Let the word of Messiah dwell in you richly, in all wisdom, teaching and admonishing each other, in psalms, hymns, and spiritual songs, singing with grace in your hearts to God. And all you do in word of work, do all in the name of the Lord Yeshua the Messiah, giving thanks to Him through God the Father.
Wives, be subject to your husbands, as is proper in the Lord. Husbands, love your wives, and do not be embittered against them. Children, obey your parents in all things, for this is well pleasing to the Lord.
Fathers, do not stir up your children, lest they become disheartened. Slaves, in all things obey those who are your lords according to the flesh, not in eye-service as men-pleasers, but in sincerity of heart, fearing the Lord. Whatever you do, work heartily, as for the Lord rather than men; knowing that from the Lord you will receive as due the recompense of the inheritance. It is the Lord Messiah Whom you serve. For he who acts wrongly will bear what he did wrongly, and that without respect of persons.
I'm afraid that this passage, like the similar passage in Ephesians gets too much attention for the wrong reasons. This is largely because people choose to focus on Pauls instructions to wives to the exclusion of all else. As a reslt, people fail to see that Paul's primary concern isn't with behavior, but with motivation. This is easily understood when you see that for Paul actions flow from motivation. Hence, he first gives general instructions about why Christians should do things and only then addresses specific items of behavior.
It is quite clear, I think, that Paul's primary focus in this passage is that of love. He makes it clear that Christians should love each other and, more importantly, love God. Then, he goes on to say that if you do love God and each other, that you will behave in certain ways. Yes, wive are to submit to their husbands, but husbands are to treat their wives in such a way that such submission should never cause a problem. Children and slaves are also instructed, in their own ways, to be obedient. But fathers and masters are instructed to act kindly.
In Christian relationships, where everyone is fulfilling their obligations, the types of submission Paul discusses would not be a burden. Of course we all know that not every one fulfills their obligations. However, the failure of one party does not release us from our duties. Our social contract is not with each other, but with the Father.
1Messianic Renewed Covenant translation