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Bill Rancic brings his years of entrepreneurial success in the boardroom to the Us Weekly studio by sharing his greatest lessons learned and his best advice entering the new year.
“I think, today, the biggest financial mistake people make is that they spend more than they can make, and that’s it,” Rancic, 53, said exclusively Us when discussing his new podcast “Dollar Bill”. “I always go back to what my father told me. ‘It’s not how much money you make, but how much money you save.’ So, you have to be a disciplined saver, even if it’s $10, $20, $50 a week—whatever it is, make that habit. Don’t ever no do that, and you’ll be surprised what happens 20 or 30 years from now.”
Rancic is best known as an original winner The Apprentice. After his reality TV success in 2004, Rancic went on to launch a series of successful businesses, including the RPM restaurant chain with his wife, Giuliana Rancic. Bill’s latest venture is his “Dollar Bill” podcast, which delves further into the world of finance.
In terms of his savings tips, he gave Us further clarification on how to keep assets safe.
Bill Rancic can’t get over how great Justin Bieber is with his wife and Giuliana Rancic’s 11-year-old son, Duke. “(He’s) the best guy ever. The nicest guy. So good with Duke. I love that kid. He’s not a kid anymore, but (I) love him,” the entrepreneur, 53, told Us Weekly of Bieber, 30, on (…)
“The money you save is going to be up to you and (you should) find a good financial adviser,” says Bill Us. “(There should be) someone who can give you guidance on how you should invest it, but it should definitely be going to work for you.”
Bill also explained why individuals should “never sell anything unless they have to.”
“It depends on what it is,” he noted. “If it’s a depreciating asset, you should sell it. If it’s something like real estate, investment property (or) something that God isn’t making any more of, you want to keep it and pass it down from generation to generation, if you can.”
Bill Rancic
Us WeeklyIn fact, Bill believes that financial health is “just as important” as a person’s health physical healthgoing on to add that he believes the two are actually connected.
“When you’re under financial stress, it causes stress on your body and if you look at the main cause of divorce, it’s money,” he told sight360. Us. “Money, in many cases, is very troublesome for people and it causes them a lot of pain and suffering. So, you have to have good financial health in order to have a healthy life, a healthy marriage (or) a healthy family.”
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The first Giuliana and Bill seren has also given us his three good tips for start a new business.
“One is (to) embrace a term called ‘hands-on execution,’ which essentially means stop talking, start doing – actions speak louder than words,” Bill said. “Secondly, you have to be agile. You have to adjust, adapt, react, and if you’re not agile, you disappear. And thirdly, it’s about risk. It’s about understanding risk, respecting risk, and turning risk into success.”
For more of Bill’s words of financial wisdom, watch the video above.
With reports from Christina Garibaldi
