Bill Rancic Bringing years of his entrepreneurial success to the boardroom our weekly Shared studio His greatest teaching and best advice Going into the new year.
“I think, today, the biggest financial mistake people make is spending more than they can afford, and that's it,” Rankick, 53, said exclusively. our While discussing his new “Dollar Bill” podcast. “I always go back to what my father told me. 'It's not how much money you make, it's not how much money you save.' So, you have to be a disciplined saver, even if it's $10, $20, $50 a week – whatever, get into that habit. never no Do that, and you'll be shocked at what happens 20 or 30 years from now.”
Rancic is best known as the main winner apprentice. After his reality television breakthrough in 2004, Rancic launched a string of successful businesses, including the RPM restaurant chain. his wife, Giuliana Rancic. Bill's latest venture is his “Dollar Bill” podcast, which delves into the world of finance.
In terms of his savings tips, he gave us more clarification on how to keep assets safe and secure.
Bill Rancic doesn't understand how great Justin Bieber is with his and wife Giuliana Rancic's 11-year-old son, Duke. “(He's) the greatest guy ever. The nicest guy. Very well with Duke. I love that kid. He's not a kid anymore, but (I) love him,” the 53-year-old entrepreneur exclusively told Us Weekly of Bieber, 30, (…)
“The amount of money you save is really up to you and (you should) find a good financial advisor,” Bill said. our. “(It should be) someone who can give you guidance on how you should invest it, but it must work for you.”
Bill also explains why individuals “should never sell anything unless they (have) it.”
“It depends on what it is,” he noted. “If it's a depreciating asset, you should sell it. If it's real estate, investment property (or) something that God isn't making anymore, you want to keep it and pass it down from generation to generation, if you can.”
Bill Rancic
our weeklyIn fact, Bill believes that financial health is “just as important” as a person. physical healthAdding that he believes the two are actually connected.
“When you're financially stressed, it puts a strain on your body, and if you look at the number one reason for divorce, it's money,” she said. our “In many cases money is very difficult for people and it causes them a lot of pain and suffering. So, you have to have good financial health to have a healthy life, a healthy marriage (or) a healthy family.”
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the former Giuliana and Bill The star gave us her three top tips Starting a new business.
“One is to embrace a term called 'Practical Execution,' which basically means stop talking, start doing — 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 about risk. It's about understanding risk, respecting risk and turning risk into success.”
For more financial words of Bill's wisdom, watch the video above.
With reporting by Christina Garibaldi