Baby Boomers Love Their Pets to the Tune of $60 Billion Annually
One of the phenomena that has accompanied the aging of we Boomers is the explosion of pet ownership in the US. Boomers were the first generation of Americans for whom pet ownership was common. Before us, farmers and other rural Americans had cats and dogs that lived outside and ate table scraps and rodents. Boomers made pets part of the family and brought them inside. And now that our nests are empty, we’re filling them with furry family members. Last year (2015), Americans spent more than $60 billion on pets. The adoration of our pets has reached unprecedented levels of specialization. Of course, pet owners take their animals to the veterinarian and possibly a groomer, but we can also take Fido to the Spa and Daycare, we can take Fluffy to a pet psychologist, and boomers can now buy homeopathic remedies to treat Snowball’s unique maladies. We love our animal companions so much there is seemingly nothing we won’t do for them, and that has caused the pet care and pet food markets to explode.
David Wingate is an elder law attorney at the Elder Law Office of David Wingate, LLC. The elder law office services clients with powers of attorneys, living wills, Wills, Trusts, Medicaid and asset protection. The Elder Law office has locations in Frederick and Montgomery Counties, Maryland.