The Ways Pets Improve Our Retirement Well-Being
Getting pet-friendly when you leave the work world may give you a healthy boost.
A rare silver lining emerged during the coronavirus pandemic as people stuck at home sought animal companionship through foster care or pet adoption. Their instincts to shelter in place with a dog or cat were right on target because in times of stress pets offer people emotional and social support.
For older adults, pets are a buffer against loneliness and isolation, but the benefits go beyond boosting human spirits. A growing body of evidence suggests our four-legged friends improve our health, too.
“When you give a pet love, you get unconditional love back,” says Jean Shafiroff, national spokesperson for the American Humane and owner of Rosita, a mix rescue dog. “It’s a very therapeutic bond.”
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Biologist and public health researcher Erika Friedmann has been studying just how therapeutic that bond is. Her research with colleagues was among the first to document the health benefits of pet ownership 40 years ago. That research found that people who had a heart attack and owned a pet were more likely to be alive a year later than those without a pet. Among the 39 patients without pets, 11 (28%) had died compared to only three (6%) of the 53 pet owners.
Now a professor and associate dean for research at the University of Maryland School of Nursing, Friedmann was the lead author for a scientific paper published in 2018 that found dog owners adopt healthier lifestyles, including getting enough exercise and sleep. “Having a dog gives a person a reason to exercise and thus improves cardiovascular health,” the paper says.
Research also has shown that bonding with a pet can produce oxytocin and prolactin, the same hormones that women secrete when their baby is breastfeeding. In 2015, Science reported that humans bond when they gaze into one another’s eyes, and a similar bonding takes place between dogs and their owners.
Says psychiatrist Gregory Fricchione, who was not involved in the research: “Dogs have the ability to increase oxytocin in their owners.” Oxytocin, he adds, is an anti-stress hormone. “In and of itself, it’s likely to be health promoting.” He is director of the Benson-Henry Institute for Mind Body Medicine at Massachusetts General Hospital and a faculty member of Harvard Medical School.
Other studies have linked pet ownership with decreased blood pressure, slightly lower overall blood cholesterol levels and general calming benefits, although more research could determine whether pets reduce anxiety or even depression in people.
For some pet owners, no research is needed. They already believe their four-legged pals enrich their lives. When Susan Feldman, 71, and her husband Marc Labadie, 72, who live in Portland, Ore., first met, they had three dogs between them.
“You can really meet a lot of people through dogs,” she says. “It’s very social.” Of the two rescue dogs, Stella, 16, and Mack, 9, that the couple has now, Feldman says, “They’re just fun to be around.”
There are also health risks associated with pets. Although they are unlikely to spread COVID-19, pets can pass on other diseases to people.
“Handwashing is more important than ever now after touching, feeding or caring for your animals,” says Casey Barton Behravesh, director of One Health Office at the Centers for Disease Control and Prevention.
Owning a pet isn’t cheap. Pet adoption typically ranges from $75 to $250 depending on the animal and its age. A pure-bred cat from a reputable breeder can cost between $300 and $1,500, according to the Cat Fanciers’ Association. The average initial cost of purchasing or adopting a dog, including spaying or neutering, is even higher—$2,127—says the American Kennel Association. Thereafter, annual expenses average $2,489
Get Kiplinger Today newsletter — free
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.
Harriet Edleson is an expert on baby boomer retirement strategies. She has written the Retiring feature for The New York Times and the Where We Live feature for The Washington Post. A former writer/editor/producer for AARP where she specialized in Social Security, she now writes for Kiplinger's Retirement Report. A graduate of Mount Holyoke College with a B.A. in sociology, she began her writing career at the Gannett Westchester (N.Y.) Newspapers and the Houston Chronicle. Her forthcoming book, 12 Ways to Retire on Less: Planning an Affordable Future, is to be published by Rowman & Littlefield in May 2021. Other areas of interest are real estate, health, and travel.
-
Here's How To Get Organized And Work For Yourself
Whether you’re looking for a side gig or planning to start your own business, it has never been easier to strike out on your own. Here is our guide to navigating working for yourself.
By Laura Petrecca Published
-
How to Manage Risk With Diversification
"Don't put all your eggs in one basket" means different things to different investors. Here's how to manage your risk with portfolio diversification.
By Charles Lewis Sizemore, CFA Published
-
457 Plan Contribution Limits for 2025
Retirement plans There are higher 457 plan contribution limits for state and local government workers in 2025 than in 2024.
By Kathryn Pomroy Last updated
-
Medicare Basics: 11 Things You Need to Know
Medicare There's Medicare Part A, Part B, Part D, Medigap plans, Medicare Advantage plans and so on. We sort out the confusion about signing up for Medicare — and much more.
By Catherine Siskos Last updated
-
The Seven Worst Assets to Leave Your Kids or Grandkids
inheritance Leaving these assets to your loved ones may be more trouble than it’s worth. Here's how to avoid adding to their grief after you're gone.
By David Rodeck Last updated
-
SEP IRA Contribution Limits for 2024 and 2025
SEP IRA A good option for small business owners, SEP IRAs allow individual annual contributions of as much as $69,000 in 2024 and $70,000 in 2025..
By Jackie Stewart Last updated
-
Roth IRA Contribution Limits for 2024 and 2025
Roth IRAs Roth IRA contribution limits have gone up. Here's what you need to know.
By Jackie Stewart Last updated
-
SIMPLE IRA Contribution Limits for 2024 and 2025
simple IRA The SIMPLE IRA contribution limit increased by $500 for 2025. Workers at small businesses can contribute up to $16,500 or $20,000 if 50 or over and $21,750 if 60-63.
By Jackie Stewart Last updated
-
457 Contribution Limits for 2024
retirement plans State and local government workers can contribute more to their 457 plans in 2024 than in 2023.
By Jackie Stewart Published
-
Roth 401(k) Contribution Limits for 2025
retirement plans The Roth 401(k) contribution limit for 2024 is increasing, and workers who are 50 and older can save even more.
By Jackie Stewart Last updated