My question is in regards to emergency funds regarding ownership of a horse.
I currently lease my horse, and thoughts of ownership have crossed my mind. I am a very practical minded person and preparation is very important to me.
Since I was not born into a farm family, and am a self employed music teacher, I am not exactly well monied at this point. So if in the next few years I decide to take on ownership I would want to start preparing now.
I understand the costs of daily care and so on that would have to be budgeted.
Currently I have a will in place that would allocate any proceeds from sale of my house, et al, to the caretaker of any animals I own.
I am thinking more in terms of an emergency fund, or account for a horse emergency that hopefully would not ever need to be actually used. The insurance policies that are offered seem a little dodgey. So I am thinking opening an account ahead of time and building it would be a good idea. If it’s never needed, great, it could make interest. However it would be there for the horse if needed.
Does anyone have an idea of a good amount to have in place?
Thank you, and I hope this is not an inappropriate query for the forum.
My neighbors bills gave been approx 1500 to 2000 dollars lately. For severe colic and stitches episode. Her elderly mare had a heart attack and was put down for 300 dollars roughly. I had another neighbor have a horse founder and it was so bad he had to be put down. Don't know how much that was. Another neighbor has a mare with water on her knee and not sure how much that cost so far.
My gelding had two incisor teeth pulled due to periodontal gum type issues. That was three years ago. It was a scheduled appointment and was around 800 dollars. He has since been put down due to more colic/chewing and choking issues involving his molar teeth. the cost for putting him down was around 375 dollars and rendering farm call pick up was another 125 dollars. that was two years ago.