Whether it’s a cheek rub or a tail wag, many of us can’t resist the love and affection we feel from animals. And while there’s plenty of work involved as a pet owner, the upside is pretty clear: Surveys and studies show real physical and emotional benefits from pet companionship as we get older. A recent survey from the University of Michigan’s National Poll on Healthy Aging reports that over 50% of those ages 50-80 have pets, and ¾ of those pet owners say that their pets help them stay physically active while reducing stress and giving them a sense of purpose. So grab your leash and read more about the survey here.

But there’s no doubt that the expense and responsibilities of pet ownership can be a challenge as we age. For example, dog walking can be treacherous: over the past 15 years, there’s been a significant rise in the number of injuries in older dog walkers. And given that you never know what’s going to happen, as an older owner you need to plan in advance for your pet– making sure arrangements are in place for someone to take over in case you can no longer provide care. Moreover, the expense of owning a pet can be significant. For those on a fixed budget, owning or keeping a pet can be prohibitive without help. Moneywise has a useful post on the economics and the options of affordable pets in your later years. And there are sources of support out there. Senior Advisor has a list of resources to assist low-income pet owners. In some communities, there are even volunteer organizations to provide pet walking and other assistance. So for those with a will to own a pet, there’s usually a way to figure it out, because, as the saying goes, “Without my pets, my wallet would be full, my house would be clean but my heart would be empty.”