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

Like why be rich when no one knows who you are. Its better to have a good name so that no matter  what people know what kind of person you really are. So make a good name for yourself so you won't just be known as someone with money be someone who people want to be. The way to show that is having a good name and having a name isn't just having a name. Like for example look at that cheater that's not a good name that's just (CTW) and you don't want that you want a (CTR) name for yourself.