The fear of the LORD is the instruction of wisdom; and before honour is humility.
The fear of the Lord (is) the instruction (Hebrew, the discipline) of wisdom - `the discipline' whereby "wisdom" is acquired (Psalms 111:10). "The fear of the Lord is the beginning of wisdom" (cf. Proverbs 1:7). Here the same sentiment occurs, with the additional notion of discipline or correction attached. Chastening, when sanctified, generates "fear of the Lord," which is the first step in true "wisdom."
And before honour is humility - not, humility is preferable to honour; but "humility," under the Lord's discipline or correction (as the parallel clause requires) goes "before honour," just as "before destruction the heart of man is haughty" (Proverbs 18:12; Proverbs 22:4; Zephaniah 2:3). Discipline is the necessary condition of heavenly wisdom-that is, piety; piety, though requiring, on man's part, humility under discipline, eventuates in honour.