Soaking up excerpts of the book titled New Money, Staying Rich by Phillip Buchanon proves why the former NFL star’s memoir is temporarily out of stock on Amazon. It’s too bad Philip doesn’t have a Kindle version of his tome on Amazon, because surely sales would keep coming in for his excellent and funny writing, which is full on display in the honest work that’s getting plenty of buzz online for Buchanon’s lessons about becoming a “Newborn Millionaire” who gave away plenty of money after being drafted in 2002 by the Raiders as the 17th overall pick.
In the book, Buchanon details that one of the most shocking parts of his new millionaire status came when his mother demanded $1 million from Phillip as repayment for raising him for 18 years, reports CBS Sports. Although Phillip writes that he didn’t give his mom the $1 million she demanded of him, he did buy her a big house as a “thank you” for his childhood. However, that big purchase didn’t pan out, because he underestimated the amount of maintenance a large home would entail. Instead, the good son offered to buy his mom a smaller house or $15,000 cash — and she chose the cash, because she refused to sell her old home. Buchanon says his mother also told him that if he didn’t buy her a new home with enough room for two living room sets, she didn’t want the house.
Despite all the demands, Phillip paid his mom’s mortgage for at least 7 years and learned a lot about becoming more responsible with his money in the end, reports NBC Sports. However, it took the hard lesson of learning that buying lots of cars, funding expensive trips to places like the Cayman Islands, impressing lots of women with weekend getaways and tons of “popping bottles” at pizza parties, and dinners soon means that a bank account can dwindle towards zero.
Extended excerpts from the New Money, Staying Rich book have been published on Fox Sports, detailing more of his mother’s demands. In the memoir, Phillip looks back over his life and gives credit to all the family members — such as a couple of memorable uncles — who helped shape him as a man. His book is a warning to other newly rich folks, be they athletes or others, on how to distinguish folks who are truly needy from those who are only greedy.
As reported by the Inquisitr, NFL salary deals can be quite lucrative.
[Image via Essence]