If pets add value to your life, then playing with your dog or giving head scratches to your cat count as emotional dividends, says Gregory Van, CEO of robo-advisor Endowus.

By that logic, buying a pet counts as an initial sunk cost, followed by recurring expenses for food, enrichment and veterinary care. Even healthy dogs will cost paw parents some $3,500 a year, says Van, amounting to nearly $50,000 over the course of its pampered life.

Along with He Ruiming, co-founder of personal finance page The Woke Salaryman, Van discussed how pet lovers can invest for their furry friends at Endowus’ “Managing tail risks: Investing & saving for your pets” webinar on June 16.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook