Saving for Your Pet's Retirement… a Personal Story

 

Upon reading the title of this article, you’re probably already thinking that my brain must be clogged with dog hair if I’m suggesting that you set up a 401K for your dog. However, while I’m not suggesting your dog retire to a condominium in Florida, it probably would be a good idea to plan ahead for some of the expenses that are inevitable when you have an elderly pet.

Like most people, I consider my dog and two cats to be important parts of my family. They are excellent pets, providing laughter, joy and companionship for our family as well as everyone who visits our home.

Fortunately, from a financial viewpoint they’ve also been somewhat inexpensive pets to have. Of course there are the ongoing expenses of feeding them, the monthly heartworm and flea prevention for the dog and the money spent on lavishing them with comfy beds and every sqeaky dog or catnip toy ever invented. But we’ve been fortunate with their health care too. Over the years, we’ve had each pet neutered, each has received an annual vet exam and immunizations, and other than the occasional ear infection which required a vet visit and antibiotic ear cleanser, we’ve been basically home free.

Until recently, when our dog turned ten.

All of a sudden, we find ourselves at the vet on a regular basis. First a skin rash that turned out to be a grass allergy, requiring an office visit, antibiotics and a $28. bottle of special shampoo.

Next, a huge growth on his foot that was causing pain and needed to be surgically removed.

Only a few months later, another growth that was oozing and painful, which there was no way of alleviating other than with surgery. Oh, and by the way, he’s now arthritic and has elevated liver levels requiring medication that totals about $170. a month.

Sad! Very sad! However, although his age is catching up to him, he’s still the goofiest, most playful ten year old, loveable dog you’d ever want to meet. He still loves to go on long walks, will gleefully retrieve anything that’s thrown, plays with all of his doggy friends and enjoys chasing shadows just as much as he did as a puppy.

What I’m wondering is, who feels sorry for us? Certainly not Visa or Mastercard, thank you very much. I can’t help thinking that if we’d saved $10. per month ever since the dog was a puppy, even at an earned interest rate of only 4%, we would currently have about $1,500. set aside for these (unexpected?) expenses.

Wouldn’t it have been nice if we had done that… freeing up our emotions so we could just focus on our beloved pet without worrying about the cost?

Just a little food for thought… maybe we’ll at least start a “retirement” savings account for our cats!