People are including pets in their financial plans

Well looked after

ONE of Dianne Burns’ most important retirement plans involved a dapple-grey horse named Scout. The former forensic scientist had dreamed of riding once she stopped work. So it was a happy coincidence when she discovered that her financial planner—who advises clients on California’s central coast—loved horses, too. Thanks to precise financial modelling and strict budgeting, Ms Burns managed to set aside $20,000 for a pickup truck and $10,000 to buy Scout in 2016. Ms Burns says she plans to sell some shares next year so that she can buy her horse a trailer—though she hopes not to draw down her savings too much.

Ms Burns joins a growing number of people who are including their pets in their financial plans. Two-thirds of all horse-owners in America have made some provision in their wills for their pets, according to a survey by the American Pet Products Association. Over a third of American pet-owners say they would pay for animal-related expenses by...



via The Economist: Finance and economics Business Feeds

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