It is such a hard decision to make and the timing is so important. Having some good questions like this will help levels of stress. When i was looking for grace it was so scary but i knew i needed a horse to be competitive on!
I think we have a commitment to the horse we own and should take care of it until it's life ends. If we can't, then it should go to a sanctuary so it doesn't end up in a slaughter house down the road.
I would like to ask Dawn a question. Did you breed and break your horse? If you bought a horse it is because someone was willing to sell it. Many people outgrow there first horse. They move up to a more advanced horse and most often the first horse gets to be the next persons first horse. I have seen one pony teach three young girls to ride. He is on his fourth as we speak. Each of those girls loved him, but needed to move on before they pushed him yo hard and broke him.