The way to a retirement saver’s wallet is through his — pet?

Massachusetts Mutual Life Insurance Co. certainly hopes so, having undertaken a campaign to entice people to save more for retirement by enabling them to post pictures of their furry, feathered or finned friends on social media. The company compares the blood-pressure-lowering effect of having a pet to the peace of mind of having enough retirement savings.

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And it’s actually working.

While more than 1,700 photos of “dogs, cats, rabbits, mice and horses in a wide range of poses and even some in costumes have been uploaded and shared on social media,” it doesn’t stop there. Enthusiastic pet owners hoping to win an iPad — if their pet gets enough votes at the end of the year — have also posted shots of nonfurry companion animals, including “a hummingbird, chickens, parrots, turtles, a lizard and pet rocks.”

Okay, so they’re sharing photos. But what about saving?

A direct marketing campaign from MassMutual encouraging retirement plan savers to boost their contributions has “enjoyed the highest response rate ever for those making additional savings,” with new retirement plan deposits attributed to the campaign — which started in March and ran through May — projected to generate $43 million in additional deposits in 2016.

The case could be made, of course, that without adequate retirement savings, one cannot adequately care for an elderly pet once one retires—not to mention oneself, so that one can continue to go on those all-important daily walks with an animal companion.

But somehow that doesn’t seem to be the focus of the campaign, which at present has as its most popular pet “a chocolate Labrador Retriever puppy resembling a stuffed toy and who has attracted more than 8,300 votes and counting.”

The RetireSmartPet.com website, where the pictures are posted, does offer advice on saving for retirement, and MassMutual said that the campaign is doing particularly well with millennials and those 55 and older.

The former (ages 18–34) had the highest response rate; retirement savers ages 55 and older had the highest increase in salary contributions. The increase was attributable to both men and women.

Instant Insights /

Pet promotion may be doggone good way to save for retirement

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