I believe there are a lot of people like me when it comes to their pets. Unabashedly, I love my dog, Jadah. She is part of my family, and I would do anything in my power to keep her healthy and happy.  Where I may miss a doctor’s appointment for myself — never for Jadah. I know I am not alone, and many pet owners like me will do anything and everything for their pets.

This month, Jadah will turn seven years old, and it reminds me how important it is for pet owners to take their pets into consideration when they do financial planning and estate planning. Pets are not inexpensive.  When you factor in food, treats and veterinary bills, the cost of owning a pet can be substantial.  It is critical to consider the cost of your pet in any planning you do.  I recently met with someone regarding their retirement timing.  After analyzing his expenses, I pointed out that he did not include the cost of his dog.  The costs were significant, considering the dog had some health issues.  In fact, the client decided to delay retirement for a couple of years because of these costs. When it comes to the financial aspect of taking care of your pet, for some people, pet insurance is a viable option.  It is not for everyone, but it is worth exploring. Keep in mind that not all pet insurance policies are the same, and not everyone needs coverage. If you are thinking about pet insurance, just like insurance for us, it pays to shop around. It is also important to include your pet in your estate plan.  After all, if you treat your pet as a member of the family, you want them to be cared for after you pass.  The issue is not only who would take your pet if you predeceased them, but also the financial considerations.  There are many strategies you can consider using to protect your pet.  In fact, today there are even “pet trusts” that can be established to protect your fur baby.

Personally, I have a sense of comfort knowing that I have taken care of Jadah, so she can have a long, healthy and happy life even if I am not around to enjoy it.

Happy Birthday Jadah!