Before we take a look into the various benefits of wisdom, let's first attempt to define it. One simple way I've seen it is explained is something like this: Knowledge x Experience = Wisdom. General rule of thumb. Seems to work fairly well. Doesn't mean that if you're young, you automatically have no wisdom, and if you're old, you automatically have heaps. It's experience, not time.
The longing after wisdom has been a long-time goal of man; often because wisdom brings with it many people seeking your counsel, and often also a high position within society. Recognition and status; they are usually what has been sought after, much more than the wisdom in itself. All too often, it has been only a means to an end.
However, not always; history tells us of some wise men who were ridiculed or hated by society. Plato, of course, is the best example here; he even described himself as the stinging gnat on the backside of the horse of Athens.
Wisdom, it would seem, however, changes significantly with the times. Things that were called wise by Plato may well not be called as such today - and quite certainly vice versa. For example, phrases like "Greed is good," or "The more you have, the happier you'll be," or even "Look out for no. 1 - yourself!" are all coined by a consumerist market. They're not words of wisdom, they're selling points. Though, for all we know, "An apple a day keeps the doctor away," could originally have come from a fruit seller. So perhaps wisdom in itself doesn't change - but what is called wise may.
As such, if you do put wisdom as your most important object, or goal; make sure it is not simply worldly wisdom, or wisdom that is created by men who are trying to create some increased cash flow to their pockets. Find true wisdom. That is a worthy goal.