How to Be a Generous Grandparent Without Breaking the Bank? | Financially Fit Radio

In this episode of Financially Fit Radio, Cory Sickles and Tony Shore explore one of the most rewarding—and potentially expensive—roles in retirement: being a grandparent. From Disney trips to daily expenses, grandparents spend an average of nearly $4,000 a year on their grandkids, with some spending over $10,000. Cory explains how you can support and spoil your grandchildren without jeopardizing your retirement nest egg. They also welcome Medicare expert Joe to walk through the no-cost steps for getting your Medicare coverage reviewed during the Annual Enrollment Period—something that could lead to hundreds in yearly savings. Whether it’s budgeting for grandkid gifts, using a 529 plan, or just saying “no” the smart way, this episode is packed with actionable strategies to help you be generous without regret.

Timestamps:
00:00 - Intro and Tony’s Dubai story
05:41 - Medicare Annual Enrollment overview with Joe
08:50 - How to start a Medicare review and what to expect
13:55 - Real-world Medicare savings examples
17:30 - Transition to today’s main topic: Grandparent giving
19:12 - Average grandparent spending stats (Kiplinger study)
22:05 - Travel, gifts, and hidden costs of generosity
25:48 - Retirement security vs. family support
28:30 - The importance of budgeting and financial boundaries
31:45 - Teaching grandkids about saving and value
34:12 - 529 plans and gift tax considerations
37:25 - Final advice: generosity with a plan
39:00 - How to get a second opinion on your financial strategy

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