Considering a pet in retirement? Furry friends can provide much-needed companionship, but it’s important to do your research before bringing a pet home.
MoneyTalk has put together a guide to things seniors should consider before making the decision to own a pet in retirement. While the physical and mental health benefits of owning a pet are well-documented, it’s important to make sure you’re prepared for the financial and practical considerations that come with pet ownership.
A few things to keep in mind:
- Costs — Pets come with a range of associated costs, from food and toys to medical care and boarding. Be sure to factor in these costs when deciding if pet ownership is right for you.
- Care — Pets require time and attention, especially when they’re young. If you’re considering a pet, be sure you have the time to commit to their care.
- Housing — Your housing needs may change in retirement, and that could impact your ability to own a pet. If you’re downsizing or considering a move to a retirement community, be sure to check their policies on pets.
Now that you know a few things to consider before taking the plunge into pet ownership, you can make an informed decision about whether or not a pet is right for you.
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