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What do you understand by the word wisdom?

Wisdom is the ability to put the knowledge and experience you have acquired to good use when solving real-life situations. Evidence in making good judgment after considering the possible outcome of the available options.

This is to suggest that wisdom is not just a theological construct but a real skill whose results are tangible and measurable, confirming the centuries-old words of a wise man who once said, "Wisdom is proved by its works"^☆

Do you think great wisdom comes with age or anyone can possess it?

Age has been an essential factor for acquiring and demonstrating wisdom. It plays an undisputed role in the knowledge-acquisition phase of wisdom. The passing of time is somehow directly proportional to the amount of experience and knowledge we accumulate.
But because experience is transferable, if at 15 years of age, I spend a considerable amount of time around my grandparents, and the way grandpa wisely addresses the villager's disputes will rub on me and at age 40, I now speak with the judgemental finesse of a 90-year-old.
Evidence that anyone regardless of their young age, can possess a considerable amount of wisdom. The same wise man I mentioned earlier could stun older men by the level of wisdom he displayed when he was only 12 years of age.^☆

If wisdom should come with age, do you agree that all elders are wise?

A few years ago, computers could collect an incredible volume of knowledge but were not wise because they could not make any useful applications. In this case, the knowledge-acquisition phase of wisdom indeed comes with age. So older people do have large reserves of knowledge and experience in human relationships, conflict resolution, parenting and other areas of life. Wisdom, being the practical application of the acquired knowledge in making good decisions, is not present in all elderly persons.
While age provides enough opportunities to accumulate knowledge and experience, it is not a guarantee that the knowledge and experience will be used insightfully when making decisions and handling problems.
An older person can have the experience but fail to learn from it or due to a narrow perspective, they may limit their understanding, affecting their decisions.

_{^{Photo Credit to Pixabay.com}}

What is your personal understanding of elders possessing wisdom?

Times have changed, but facts remain what they are. What was once considered wise is questioned by today's standards. The elderly do have the facts, they have the knowledge and the experience, but their decisions, which were smart in their time, may be less smart today.
It was a good judgment call to save money in the past, but an investment is the wise move today.
When it is said that "the elders possess wisdom" I believe they mean to say that they have knowledge and experience. Wisdom is the possession of a select few. Those who employ adaptability, critical thinking and the ability to apply knowledge in new and innovative ways when handling matters.

The old book supports the idea that not all the elderly or greyheads are glorious; it is only a crown of glory when lived right, evidence of good decisions, insightful wisdom and a strong moral compass.^☆

Invitation to participate

Thank you @udyliciouz for the invitation to participate in this contest, I would love to have the following Steemian participate in the contest too @zubaer, @dove11, @bessie2023 and @nsisong2022