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I think that's a smart decision. After you get through that expensive first year, that's the time you can really stash some money away, while he's young and healthy. I wish I'd had that opportunity with Lady, but we jumped right into major vet bills right away when I adopted her.
I have had multiple pets all my life and just cannot believe how expensive it is to own a pet now. It really is becoming a luxury. Any trip to my vet now seems to be $100 best case scenario! Throw a simple urine or blood test in and it goes up from there. And forget xrays! My vet started an xray review fee now so the cheapest you can get by (with only 1 xray) is another $85. And who needs only one xray?
Lady had a stubborn uti last fall and the "normal" workup of a sterile culture, a couple of xrays for stones and some medication was just under $300. Since I am already spending $150 a month on her meds and diabetic supplies alone, that's the equivalent of a car payment!