click on your name in this thread
that brings you to your profile page
click on edit where you want to change your update sentence
then type what you want to delete your present statement in there
then click edit again which will set it at blank or what ever new update status you write there.

Edit to add.....

if you mean where it says wise elder that you cant do until you reach so many number of posts then you will have that option in your profile.

sorry editing again to add info about titles under your name....

found here https://forums.psychcentral.com/rule...html#post24916

For custom member titles (after you've reached 2,000 posts), you cannot use:
Any existing forum titles based upon post levels
Anything profane, sexual, political or religious in nature
Anything suggesting you are a professional therapist or doctor
Anything suggesting you are a member of the community support team
Anything suggesting you are a member of the Psych Central staff (formally or informally)
(If you abuse the custom titles, you will get one warning; then the custom titles privilege will be removed.)

When in doubt about appropriate content, contact any moderator before posting questionable material.

the non custom made titles (wise elder and such) are found here in this link and the numbers are how many posts needed

https://forums.psychcentral.com/faq....aq_superposter

Newly Joined - 0
New Member - 1 post
Junior Member - 10 posts
Member - 25
Veteran Member - 500
Grand Member - 750
Poohbah - 1000
Grand Poohbah - 1500
Magnate - 2000
Grand Magnate - 3000
Elder - 5000
Wise Elder - 7500
Legendary - 10000
Legendary Wise Elder - 20000
Wisest Elder Ever - 50000