A mirrored aphorism. One chiasmus — and both sides of oblivion: "near is your forgetting of everything — near, everyone's forgetting of you." The grammatical symmetry (ἡ σὴ περὶ πάντων ↔ ἡ πάντων περὶ σοῦ) carries an existential one: you are both subject and object of λήθη. The first half is your death (and before it, perhaps, the fading of memory in life: cf. 03-01 — the mind's faculties "give out before" the body); the second, the death of your trace in others' memory (7.6: forgotten are both the hymned and the hymners; 7.10: memory has a grave, and eternity digs it). Together with 7.6 and 7.10 the line closes Book VII's λήθη-triad.
The therapy of the double cut. The EXERCISEexercise strikes two attachments at once: the thirst to hold (everything you remember and love remembering will be let go — and this is mercy: dying with the whole weight of memory would be harder), and the thirst to DOGMAbe held (fame, recognition, "life in the memory of posterity" — τιμή devalued by the shelf-life of the rememberers; cf. 2.17: ὑστεροφημία δὲ λήθη). The doubled ἐγγύς ("near") forbids postponing the conclusion: both oblivions are already on their way. The practical corollary, as in 7.10 and 8.44: spend the present neither on grieving what will be forgotten nor on building a monument in other people's heads. The discipline is desire.