It literally translates to "prepared for", but in most contexts, "ready for" is a more natural and direct English equivalent.
Here are some examples:
* "Estoy preparada para el examen." (I am ready for the exam.)
* "Ella está preparada para la aventura." (She is ready for the adventure.)
* "No estoy preparada para hablar de eso ahora." (I am not ready to talk about that now.)