"But since we belong to the day, let us be self-controlled, putting on faith and love as a breastplate, and the hope of salvation as a helmet." NIV translation
As children of God we walk in the light of day as He is light (1 John 1:5-7). To get ready for this fight against our flesh (self-control), we put on our armor just as a soldier who is getting ready for battle would. Here, Paul reminds us of a couple of the parts of our armor. (For the full armor, you can check out Ephesians chapter six) The breastplate covers the heart and, as Christians, our hearts have been changed through our faith in Jesus Christ and we have God's love in our hearts. The helmet covers the head and the brain where our knowledge of God's Word helps us to recognize the lies of the devil.
"For God did not appoint us to suffer wrath but to receive salvation through our Lord Jesus Christ. He died for us so that, whether we are awake or asleep, we may live together with him." NIV translation
In Christ, we are safe from the penalty of sin but those without Christ will suffer terribly. Christ died so that while we live here on earth (are awake), He is with us and when we die (sleep) we go to be with Him.
"Therefore encourage one another and build each other up, just as in fact you are doing." NIV translation
Because of the fact that we are saved from the coming wrath, we should tell others. There is so much bad news in the world today but we have the good news to share. During these bad times, we need to help others to grow in their knowledge of God and their faith in Jesus Christ. (That is why we created this website and do these online studies)
"Now we ask you, brothers, to respect those who work hard among you, who are over you in the Lord and who admonish you." NIV translation
Everyone needs to be humble enough to admit that we don't know everything. Part of that is having people who are stronger and more mature in their faith helping you to grow in your faith. We all need someone to keep us accountable to the Word of God (admonish us). We are to respect people like this because we see their hard work for the kingdom and not because they simply have a title.