I Timothy 4, Correct Teaching

Paul is giving Timothy advice on leading the church in Ephesus.

1 Timothy 4: 1-5, Fall teaching and abstention

The Spirit clearly says that in later times some will abandon the faith and follow deceiving spirits and things taught by demons. Such teachings come through hypocritical liars, whose consciences have been seared as with a hot iron. They forbid people to marry and order them to abstain from certain foods, which God created to be received with thanksgiving by those who believe and who know the truth.
  
For everything God created is good, and nothing is to be rejected if it is received with thanksgiving, because it is consecrated by the word of God and prayer.

Paul predicts that people will follow a variety of hypocritical teachers who focus on outward actions and asceticism.  Over 2000 years, despite this passage, a variety of sects have emphasized their asceticism as evidence of some type of spirituality. Paul's last statement is a direct confrontation to the ascetic's claim to some spiritual discipline.

1 Timothy 4: 6-11, Godly training, not gossip

If you point these things out to the brothers, you will be a good minister of Christ Jesus, brought up in the truths of the faith and of the good teaching that you have followed.

Have nothing to do with godless myths and old wives' tales; rather, train yourself to be godly. For physical training is of some value, but godliness has value for all things, holding promise for both the present life and the life to come.

This is a trustworthy saying that deserves full acceptance (and for this we labor and strive), that we have put our hope in the living God, who is the Savior of all men, and especially of those who believe.

Command and teach these things.

Paul's focus in on correct understanding and knowledge, not rumors, myths, old stories.  Every community has its own versions of "old wives' tales", popular stories that have little in touch with reality.

1 Timothy 4: 12-16, Devoted to Scripture, preaching and teaching

Don't let anyone look down on you because you are young, but set an example for the believers in speech, in life, in love, in faith and in purity.

Until I come, devote yourself to the public reading of Scripture, to preaching and to teaching. Do not neglect your gift, which was given you through a prophetic message when the body of elders laid their hands on you. Be diligent in these matters; give yourself wholly to them, so that everyone may see your progress.

Watch your life and doctrine closely. Persevere in them, because if you do, you will save both yourself and your hearers.

In this passage we learn that Timothy is young (still young) and so this letter is fairly early.  Paul reminds Timothy to be an example and to keep his focus.  Like the church leaders in Acts, he is to focus on teaching from the Scriptures (the Old Testament, at that time) and be a model of the follower of Jesus.

In the next chapter Paul gives advice on pastoral care.