Pets are a big responsibility, and they can also affect our finances in a number of ways. For example, the cost of vet visits and emergency vet care can add up quickly. In addition, as pets get older they may require special food which can be more expensive. Pet insurance is another consideration – does it make sense for you to have pet insurance?
Aside from the initial purchase or adoption of your new furry, scaly, or feathered friend; the highest cost you’re likely to face is emergency vet care. A trip to an emergency vet can cost you thousands of dollars, and if you’re not prepared to pay, then you may not be able to afford the best treatment for your pet. Luckily, some vets have payment plan options which can break up the cost of care over several installments.

An option to reduce the cost of veterinary care is pet insurance. Pet insurance can reimburse you for a portion of your veterinary bills, but it’s important to understand that there are limits and exclusions to every policy. Make sure you’re aware of your deductible, co-pays, and other fees you may incur as a result of making a claim. Pet insurance is not right for everyone, so be sure to do your research before making a decision.

Another consideration is the change in needs for aging pets. The cost of senior diet food, supplements, and items like orthopedic beds add up quickly. Unfortunately, our pets age much faster than we do, which means they will likely require more care and attention to their needs as they get older.

Personal liability is also something that people don’t consider. No one likes to think that their pet could hurt someone, but it does happen. Unfortunately, dogs, cats, birds, snakes and many other pets do have the potential to harm someone. Because of this, many home or renters insurance policies may have increased prices or reduced coverages based on the breed and type of pet in your home.

As many of you know, all of the team members at Rademacher Financial are huge pet lovers.We know firsthand how important it is that we plan for them financially so we can give them the very best life possible. We all want the best for our pets, and it’s up to us that they are well taken care of. Please reach out to us if you need to discuss your fur families needs further!

Investment advisory services offered through Rademacher Financial, Inc. Rademacher Financial, Inc. is not a registered broker/dealer and is independent of Raymond James Financial Services. Rademacher Financial, Inc. does not accept orders and/or instructions regarding your account by e-mail, voice mail, fax or any alternate method. Rademacher Financial, Inc. reserves the right to monitor all e-mail.The information contained in this correspondence does not purport to be a complete description of the securities, markets, or developments referred to in this material. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Any opinions are those of Rademacher Financial and not necessarily those of Raymond James. Expressions of opinion are as of this date and are subject to change without notice. There is no guarantee that these statements, opinions or forecasts provided herein will prove to be correct. Investing involves risk and you may incur a profit or loss regardless of strategy selected. Past performance does not guarantee future results.

Rademacher Financial Inc. is an independent advisory firm. Rademacher Financial is not a registered broker dealer. Investment Advisory Services offered through Rademacher Financial, Inc. Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC. Raymond James Financial Services is independent of Rademacher Financial, Inc. Any opinions are those of the author and not necessarily those of Raymond James.