Repentance, Repentance, Repentance.
Yes and no.
"What is repentance? The sinner shall cease sinning, and remove sin from his thoughts, and wholeheartedly conclude not to revert back to it, even as it is said: "Let the wicked forsake his way" (Is. 55.7); so, too, shall he be remorseful on what was past, even as it is said: "Surely after that I was turned, I repented" (Jer. 31. 19). In addition thereto he should take to witness Him Who knoweth all secrets that forever he will not turn to repeat that sin again, according to what it is said: "Say unto Him.… neither will we call any more the work of our hands our gods" (Hos. 14.3–4). It is, moreover, essential that his confession shall be by spoken words of his lips, and all that which he concluded in his heart shall be formed in speech,- Rambam Hilchot Teshuva, (Texts. (n.d.))
Have you heard of double jeopardy, can't be tried twice for the same sin.
Here you see that a punishment from the rabbis is a form of mercy to the soul, because it can't be judged again in heaven.
It gets tricky when you deal with the Keshafim, (Jewish and non-Jewish sorcerers, especially when they want to be the judge).
A good life has nothing to do with only what the rabbis say, it has to do with the full combination of things.
A good standing with Hashem, The people around you, and living within the perimeters of the torah, that fits your hashkafa.
Depending on the sin, resentence can absolve you from punishment, and other sins. Punishment can be the repentance, Through Hashem or the Bait din.
Texts. (n.d.), from https://www.sefaria.org/Mishneh_Torah%2C_Repentance.2.2?lang=bi&with=all&lang2=en