The Millionaire Next Door, Essay Example

Chapter 1

This chapter discusses and analyses the manner in which there are a variety of millionaires in the world who could be living next to an average-income family. This is due because the richest people in the United States do not always go for the most expensive houses since they know how to allocate their money effectively. Therefore, the book goes on to suggest that it is very well possible that one could be living next to a millionaire without one’s knowledge or awareness.

Chapter 2

This chapter talks about the importance of frugality in every millionaire’s life. This is because of the manner in which a millionaire must be aware of the things he or she should be buying and when he or she should not be buying certain products. The book talks about how frugality is especially important for those individuals who are attempting to make more money than they currently have. Not only that, but frugality is also important in order for a millionaire to be able to maintain his status as a millionaire.

Chapter 3

This chapter goes into depth into what it takes to be a true millionaire. The chapter goes into depth into why not everybody is a millionaire nowadays; it is not easy attainable. Not only that, but not a lot of individuals are willing to put in the time, energy, and money required in order to ultimately become a millionaire.

Chapter 4

This chapter analyses how the richest individuals in the world often do not spend their money on materialistic things. This is because they understand that they should allocate their money in an effective manner in order to be able to achieve their goals in mind easier. Furthermore, millionaires understand that there is much more to life and just spending all of their money on material goods.

Chapter 5

This chapter talks about why individuals should start their money empire at an early age. It gives great recommendations as to how individuals can get started on whatever financial goal they wish to attain. In addition, it gives a special insight as to why there is an advantage to starting in getting involved with the logistics of things at an early age.

Chapter 6

This chapter talks about how money should be distributed once millionaires pass away. It talks about how millionaires usually do not make assumptions about what will happen with their money once they are gone. It discusses how money is usually distributed equally among the children.

Chapter 7

This chapter explains that in order to be a millionaire, you need your niche. This means that you need something that you love. With this thing that one is able to love, he or she can pursue whatever he or she has an interest in and the money will come in time. Basically, the book explains that you cannot be a millionaire if you don’t have a passion. This chapter is vital, as it is able to show that everything should not be about the money, it should be about doing what you love.

Chapter 8

This chapter analyses the main differences between the self-made millionaires and the heirs. In specific, it focuses on the connection they have with the kind of jobs that they usually have. This chapter is important to understand so that differences can be made among a variety of individuals.