Teach ya good values so you cherish it

from Kanye West (Ft. Jay Z) – New Day Lyrics on Rap Genius

Meaning

Jay may be elaborating on his last line, where he says he will take his son on lavish bonding trips. He is saying that even though his son will live a privileged life, he won’t be spoiled and take these things for granted because Jay will teach him good values, and to appreciate and cherish his wealth/good fortune.

Alternative explanation: “It” being life. Jay wants to be present in his son’s life and teach him strong values by guiding him through normal experiences

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