Quick answer
Take advice now so that the man you become later has something to work with. The verse is a long-range appeal.
Read both lines
Two verbs open it, listening and receiving, and they are not the same act. A person can hear counsel without taking any of it, and the second verb closes that gap. What gives the sentence its weight is where it points, to latter days, the end of a life rather than the end of a week. Wisdom in this book compounds, which means the advice you take at thirty is not paying out at thirty-one. Proverbs is unsentimental about the alternative, since a man who listened to nobody arrives at the same age with the same number of years and nothing to show for them.
Related: Proverbs 12:15 · Proverbs 1:5 · Proverbs 4:13
New King James Version®, Copyright © 1982, Thomas Nelson. All rights reserved. Full copyright information. Scripture provided by API.Bible.
Go Deeper
If this verse has been used to put weight on you that it was never carrying, ask about it directly.