10-16-26 The Hidden Costs of Pet Ownership

How much does owning a dog or cat really cost over its lifetime? From adoption fees and food to veterinary care, pet insurance, and estate planning, pet ownership comes with financial obligations that can significantly affect your household budget.

Richard Rosso & Jonathan McCarty examine the true lifetime costs of pet ownership, including the differences between dogs and cats, unexpected healthcare expenses, dental care, travel arrangements, and ways to manage financial risks. Should pet expenses have their own line item in your financial plan? Is pet insurance worth the premiums? And what happens to your pets when you're no longer able to care for them?

Plus, we're discussing the reported 3.6% Social Security cost-of-living adjustment (COLA), and examining the rising costs of Halloween candy, pet costumes, and seasonal spending.

0:00 - INTRO

0:20 - The Pregnancy Minefield & The Real McCarty's

4:52 - Social Security COLA = 3.6%

6:00 - Planning for Pets - Dogs vs Cats

7:44 - Estimate Median Lifetime Pet Costs

11:28 - Animal Adoptions, etc.

13:47 - Pet Costs as Part of Financial Plan

14:16 - Setting Up Separate Pet Expense Budget Line Item

15:19 - Risk Mitigation for Pet Ownership Cost