"A good name is rather to be chosen than great riches."

I think this means is to be a good person instead of just be thinking about money. But also spend more time with family. Money comes and goes but once you loose your family they would never come back and that is one thing you would regret the most. You want people to admire you that when the here your name they oh yea Jinmy, he was a great kid he was really generous always did his work, listen to the teacher and always followed the rules. That is an example of a good name.