Wah How to use "It's time"

If you want to say that someone should do something in this time, you can use It's time to...

    Now, it's time to say goodbye. (We should say goodbye now.)
    Stop playing, it's time to work now. (We should work right now.)
    I think it's time to end this meeting.

   You earn much money, it's time for you to buy a new car.
    It's time for children to go to bed.
    Is it time for me to enjoy the weekend?

"It's time" is similar to "It's about time" but the usage is different. We will mention it later. 

"It's time to begin, isn't it?
I get a little bit bigger, but then I'll admit
I'm just the same as I was..." from It's Time - Imagine Dragons