Bill Rancic brings his years of entrepreneurial success on the board of directors to Us every week studio by sharing his biggest lessons learned and best advice for the new year.
“I think today the biggest financial mistake people make is spending more than they can earn, and that’s it,” Rancic, 53, told us exclusively. We while discussing his new podcast “Dollar Bill.” “I always come back to what my father told me. “It’s not about how much money you make, but how much money you save.” So you need to be a disciplined saver, even if it’s $10, $20, $50 a week – whatever it is, get into the habit. Never not do it, and you will be shocked at what will happen in 20 or 30 years.
Rancic is best known as the first winner of The apprentice. After his reality TV success in 2004, Rancic launched a series of successful businesses, including the RPM restaurant chain with his wife, Giuliana Rancic. Bill’s latest venture is his podcast “Dollar Bill,” which delves deeper into the world of finance.
When it comes to his savings tips, he gave us further clarification on how to keep one’s assets safe.
Bill Rancic can’t believe how great Justin Bieber is with his wife Giuliana Rancic’s 11-year-old son, Duke. “(He’s the) best guy ever. The nicest guy. So good with Duke. I love this child. He’s not a kid anymore, but (I) love him,” the 53-year-old entrepreneur exclusively told Us Weekly of Bieber, 30, the (…)
“How much money you save will really be up to you and (you should) find a good financial advisor,” Bill said. We. “(It should be) someone who can give you advice on how you should invest it, but it should definitely work for you.”
Bill also explained why individuals should “never sell anything unless they have to.”
“It depends what it is,” he noted. “If it’s a depreciating asset, you should sell it. If it’s real estate, a real estate investment (or) something that God doesn’t make anymore, you want to keep it and pass it down from generation to generation, if you can.
Bill Rancic
Us every weekIn fact, Bill believes that financial health is “just as important” as a person’s physical health, later adding that he believes the two are actually linked.
“When you’re financially stressed, it causes stress on your body and if you look at the number one cause of divorce, it’s money,” he said. We. “Money, in many cases, is very inconvenient for people and causes them a lot of pain and suffering. You must therefore have good financial health to have a healthy life, a healthy marriage (or) a healthy family.
Getty Images (2); DENNIS KWAN For Us Weekly’s first-ever advice issue, on newsstands now, stars share their hard-earned wisdom on how to raise kids, overcome obstacles and achieve your dreams. Check out their words of wisdom below. Lindsay Hubbard Recovering from Heartbreak “Take it one day at a time until you can add more to your plate.” (…)
The old Giuliana and Bill The star also gave us her three best tips for starting a new business.
“The first is to adopt a term called ‘practical execution,’ which basically means stop talking, start taking action – actions speak louder than words,” Bill said. “Secondly, you have to be agile. You have to adapt, adjust, react, and if you’re not agile, you disappear. And third, it’s a question of risk. It’s about understanding risk, respecting it and converting it into success.
To hear more of Bill’s words of financial wisdom, watch the video above.
With a report by Christina Garibaldi
