It can be difficult to define Wisdom, but people generally recognize it when they encounter it. Psychologists pretty much agree it involves an integration of knowledge, experience, and deep understanding that incorporates tolerance for the uncertainties of life as well as its ups and downs. There's an awareness of how things play out over time, and it confers a sense of balance.
Wise people generally share an optimism that life's problems can be solved and experience a certain amount of calm in facing difficult decisions. Intelligence—if only anyone could figure out exactly what it is—may be necessary for wisdom, but it definitely isn't sufficient; an ability to see the big picture, a sense of proportion, and considerable introspection also contribute to its development.