Bill Rancic brings his years of entrepreneurial success to the boardroom of Us Weekly studio by sharing his biggest lessons learned and 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, exclusively said us while 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 need to be a disciplined saver, even if it’s $10, $20, $50 a week – whatever, get into that habit. Don’t ever no do that and you’ll be shocked at what happens 20 or 30 years from now.”
Rancic is best known as the original winner of the The Apprentice. After her success on reality TV in 2004. Rancic launched a series of successful businesses, including the RPM restaurant chain with his wife Juliana Rancic. Bill’s latest venture is his podcast, Dollar Bill, which delves further into the world of finance.
In terms of his savings tips, he gave us further clarification on how to keep our assets safe and secure.
Bill Rancic can’t get over how great Justin Bieber is with his wife Giuliana Rancic’s 11-year-old son, Duke. “(He is) the greatest man of all time. The nicest man. So good with Duke. I love this kid. He’s not a kid anymore, but (I) love him,” the 53-year-old entrepreneur exclusively told Us Weekly about Bieber, 30, on (…)
“The money you save is really going to be up to you and (you need to) find a good financial advisor,” Bill said us. “(It should be) someone who can give you guidance on how to invest it, but it definitely has to work for you.”
Bill also explained why people “should never sell anything unless (they) have to.”
“It depends on what it is,” he noted. “If it’s a depreciating asset, you have to sell it. If it’s something like real estate, investment property (or) something that God no longer creates, 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 one’s health physical healthadding that he believes the two are actually related.
“When you’re financially stressed, it puts stress on your body, and if you look at the number one reason for divorce, it’s money,” he said us. “In many cases, money is very troubling to people and causes them a lot of pain and suffering. So you need to 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 advice issue, on stands now, the stars share their hard-earned wisdom about raising children, overcoming obstacles and achieving your dreams. Check out their words of wisdom below. Lindsay Hubbard on Heartbreak Recovery “Take it one day at a time until you can add more to your plate. (…)
The former Juliana and Bill star also gave us her top three tips for starting a new business.
“It’s human (to) embrace a term called ‘hands-on’, which basically means stop talking, start doing – actions speak louder than words,” Bill said. “Second, you have to be nimble. You have to adapt, adapt, react, and if you’re not agile, you disappear. And third, 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 reporting by Cristina Garibaldi
