Pets are lovable sources of companionship at any age. For many of your clients, their pets truly are a part of the family and in some cases, these furry friends may have a higher ranking than other family members.
As clients enter into retirement, their pet may be getting older with a life expectancy much shorter than the owners. A common mistake made by retirees is immediately replacing “Muffin”, “Mittens” or “Buster” without carefully evaluating the impact of the decision on their retirement plan. Consider a client who plans to travel, volunteer and have hobbies outside of the home. They now have a new pet – possibly a kitten or puppy – and are limited to out-of-home activities because of the need to care for the animal. As the pet grows, there may be a difficulty in leaving it for weeks at a time, especially when traveling or going on vacation.
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