Hey guys, After few days of recording I finally decided to put something together in Premiere Pro CS6. Unfortunately I am running into problems with 4K editing.  My computer is pretty good with 32gb ram and 2GB video but still not enough for  4K editing.  I know there is a possibility of changing editing settings in Premiere Sequence but so far I was not able to get it run smoothly.
Any advise is highly appresciated

Thanks

What kind of processor do you have? You have plenty of RAM, but if you don't have a good enough processor, then RAM doesn't matter.
I only have 8gb of RAM, and I can edit the 4K footage with no issues in Premiere pro CS6.

It's a combination of RAM, video RAM, CPU, and hard drive space/speed. I have an i7 with 16gb RAM and 2gb video card, but found if I had the scratch disks as my main drive (which is a more than have full 256gb SSD) it was giving me issues. When I pointed everything to a spinning HDD with a couple terrabyes free it ran very smooth.

I would assume your issue is moreso HDD space/speed than it is anything else. I'm able to edit 4K video on a early 2012 Macbook Pro i7, 8GB of memory, 750GB 7200RPM/SSD hybrid Seagate drive. I find having the 4K footage on my laptop hard drive directly edits much smoother than trying to edit it via a USB 3.0 G-Drive. Be sure whatever drive is your editing/footage drive that it has 30% or more free space as well or else that will slow you down quite a bit. Additionally, below the source and record windows in premiere you can toggle a drop down from "Full" to 1/2, 1/4, or 1/8th resolution and that will help with speed as well.

I have
Processor        Intel(R) Core(TM) i7-4770 CPU @ 3.40GHz, 3401 Mhz, 4 Core(s), 8 Logical Processor(s)
Installed Physical Memory (RAM)        32.0 GB
Video -Nvidia GT640
Motherboard DH87MC

OP, your processor isn't bad. Here is one trick you can try, in Premiere go to File -> Project Settings -> General. Check if you are on Hardware or Software. If Hardware, I see you have NVIDIA GT640, I believe that supports CUDA, so it should say Hardware CUDA or OpenCL/GL. Anyways, see what setting it is on. For me, when editing, for whatever reason, my computer performs faster on Software engine even though i'm running dual GTX 970s in SLI, a 5820k, and 32gb of ram.. Some CUDA bug during editing previews in Adobe Premiere CC for myself. Once you make the appropriate change, restart Premiere then try editing again. In Adobe Media Encoder I use Hardware CUDA acceleration no problem, but for editing I have it on Software.. Lastly, in the preview playback plane, change the playback resolution to 1/4. Hopefully that helps!

What part of "editing" is it you feel like you can't do?

When you start putting effects on and that sort of thing, it will take a good while to render. Thats how it is. You can likely also change the playback quality - so you're looking at non-full quality when editing, but when you render the film out, it will be perfect.

Good luck.

Thanks everyone. My video card  GT640 is not the best. I've read it performes poorly with adobe premiere. I bought today GTX970  but it comes with  two power ports and  four  connecting cables. My power supply might be to weak to handle that. I need to change it as well.

Love to play with P3. Flying is fun. I use Galaxy S 8.4.  It gives me nice big screen.   I have great  videos. Now I need to edit those videos.

I got new power supply. New video card GTX 970 works much better. Now I am ready to edit few clips.