Proverbs has a great deal to say about what is truly valuable. Here we find that our name is worth a great deal. A good name is a sign of a wealthy man. That good name is earned in life by living a godly life - being a man or woman of honor - being true to your word - being a trustworthy person - being someone who excels at what they do - and showing godly character in all situations, especially those that are difficult.
There are those who are rich, but who have come to their riches in a way that has cost them their name. They have relied on questionable practices and get quick rich schemes. In the process of gaining a great deal of money, they've abused their name and their reputation. Thus, they may be rich in the things of this world, but their name is basically mud to those who know them. We all know someone who wanted to get to the top and who decided to step on people all the way up there.
The restatement of this Proverb is even more telling though. A good name is more to be desired than great wealth - but even better than that is knowing what the Bible calls "favor." This, according to the Lord is better than silver and gold. What does it mean to have "favor?" This word means to have grace or acceptance. The fundamental way this word is used in Scripture is to describe the unmerited favor that God gives us. Here, though, it probably refers to the favor - the approval that we receive because we are a man of character and godliness. Men truly value a man who is like this. The value of such things as a good name and favor because of our character is invaluable. These things come with time because we choose to follow the Lord and live according to His principles and desires.
Do not ever underestimate the value of your name and the way that being a good man or woman brings you the favor of others. It is something that no one can estimate with a calculator. The blessing that comes with it will not only last a lifetime - but often will be remembered long after one has left this world.