Second time for wise man (4)
I believe the answer is:
sage
'for wise man' is the definition.
(sage is a kind of wise man)
'second time' is the wordplay.
'second' becomes 's' (common abbreviation).
'time' becomes 'age' (an age is a period of time).
's'+'age'='SAGE'
(Other definitions for sage that I've seen before include "Wise green herb?" , "Fragrant herb having wisdom" , "Herb; wise person" , "Herb used in cooking" , "___ and onion" .)