Retirement planning? Don’t forget your pets.
With the kids grown and out of the house (hopefully), pets have become an important family addition for baby boomers in retirement.
When it comes to retirement planning, the topic of pet expense planning is rarely discussed. It shouldn’t be ignored.
Pets are big business. According to www.americanpetproducts.org, it’s estimated that pet owners in the U.S. spent $55.53 billion on their beloved cats, dogs and other animals in 2013, an annual increase of 4.1% since 2003.
I’ve been helping retirees and pre-retirees prepare and maintain budgets for over 20 years. According to my own estimates, pet “parenting” now consumes a greater bite (no pun intended) of the overall budget in retirement.
Click here to view original web page at www.csmonitor.com
Category: Articles
It’s strange how pets seem to be more expensive than people, at least in medical bills. Though maybe that’s not true for the older segment of the population with higher health care costs. But yes you do have to plan for them too. Make your plan at http://www.mutualfundstore.com/planning-and-retirement. Then do your best to stick to that plan.