The book of Proverbs tells us what it means to be wise. Being wise is more than just knowing a lot or being smart. It involves things like fearing the Lord, listening to others, loving God's Word, having a joyful heart, being generous, not hiding our sin, working hard, and telling the truth.
One of the ways we become wise is by spending time with people who are wiser than us. That's what it means to "walk with the wise"?.
Most of all, wisdom is believing that Jesus is the Son of God who died for our sins and rose from the dead so that we could be forgiven and follow Him. That kind of wisdom is more important than anything in the world.