The Cost of Keeping the Bank of Mom and Dad Open

Graduation season brings big changes — not just for students, but for parents too. In this episode of Dime to Diamonds Podcast, Suzanne Porske and Sharla Victor of Phoenix Financial Group dive into the emotional and financial realities of “The Bank of Mom & Dad” finally closing. From groceries and student loans to retirement planning and healthy financial boundaries, Suzanne shares real client stories and practical advice for parents navigating the transition from supporting children to securing their own future. They discuss the surprising statistics around financial support for adult children, how those choices impact retirement goals, and why graduation is the perfect time to have important money conversations. You’ll also hear insights on: Setting financial boundaries with adult children Preparing graduates for real-world financial responsibilities Retirement catch-up contributions and Roth strategies Student loan conversations Estate planning updates after major life changes Why working with a financial professional can help families stay on track Whether you’re a parent preparing for an empty nest, a recent graduate stepping into adulthood, or someone helping family members navigate major life transitions, this episode is packed with relatable stories and actionable guidance. Read the accompanying blog and learn more at Phoenix Financial Group