If you are going to model your life on someone, it is important to make sure they model the things you aspire to.

Not that they need to be perfect people, but you need to make sure that they align with your beliefs, ideas, and aspirations in several areas.

Here are three areas you should look at:

Values:

Role models should embody the ethics and values that you respect.

Does the person have the same values as you? If you must ignore major differences in values, this is a good indicator that they are not an excellent role model for you to emulate. Look at both the things you value, and at the other end of the spectrum, the things you don't.

Negative things can rub off on you over time, chipping away at your values just as easily as the positive ones.

Inspiration: 

Role models should motivate and encourage personal growth.

My son feared heights. Instead of indulging his fear, I worked with him to overcome it. Now, he rock climbs, zip lines, and paraglides. I modeled these things for him, to show him what was possible, and encouraged him to take small steps to conquer his fear.

Good role models are not permissive, allowing you to be comfortable with your negative traits; they encourage you to overcome them.

Aspirations: 

Role models should show you what you can become.

Goals are an important part of improving in life. When young, goals come from teachers, parents, and media figures. Many times, you are not even conscious of them. Once you are aware of what your goals are, a role model should show you it is possible to get there.

They should have walked the path that you want to tread and should give practical guidance and lessons to help you on your journey.

You will become like the people you model, so choose them wisely.

This applies just as equally to yourself as to your children. Make sure they have positive role models that have good values, inspire them, and show them a path to their aspirations.