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Why I'm in Early Retirement at 46 in China

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Why I'm in Early Retirement at 46 in China

Transcript

111 segments

0:20

I'm Yaning,

0:21

a 46 years old single mom from China.

0:26

I lost my job at the start of this year.

0:33

For the last six months,

0:35

I've been constantly on the job apps sending out resumes.

0:41

but I've barely heard back.

0:43

The only one time I did get a response,

0:46

they asked about my age over the phone and told me I was over the age limit of their position.

0:54

And that was it.

1:53

A former colleague of mine,

1:55

my age, educated overseas

1:58

fluent in English, super capable

2:01

and had been at top global companies her whole career

2:06

reached out yesterday.

2:08

She told me she just got laid off from her international company last week.

2:17

I asked her what she's gonna do next.

2:21

She said it's tough to find a job at our age,

2:25

and if nothing turns up,

2:27

she's just gonna wait for retirement.

2:42

And honestly,

2:43

that's just how it is in China right now.

2:46

Once you're past 35, finding a job gets really hard.

2:52

And the older you get, the harder it gets.

2:58

But here's the thing,

3:00

the job market overall in China isn't great right now either.

3:04

It's not just people over 35,

3:07

even a lot of young people are struggling.

3:11

I think there are a few reasons.

3:22

First,

3:23

the economy in China is in a rough spot,

3:27

and companies are feeling the squeeze.

3:30

A lot of them have no choice but to cut staff and cut costs just to stay alive.

3:37

Some small businesses have even gone under already,

3:41

leaving their employees out of work.

3:46

Second,

3:47

AI has come so far in just a few years,

3:50

and more and more jobs are slowly getting replaced by it.

3:57

Third,

3:58

China's got a massive population,

4:01

and millions of new grads are pouring into the job market every single year.

4:08

So at the end of the day,

4:10

there are way more people looking for work than there are jobs, which means some people are just not gonna find a job.

4:31

With all that going on, employers have more options,

4:36

and they'd much rather hire younger people.

4:39

Because they figure people over 35 expect higher pay,

4:43

while younger hires come much cheaper.

4:50

Also, with years of experience,

4:53

older people have got their own ways of doing things,

4:58

they're not as easy to manage as younger folks.

5:09

And let's be real,

5:11

middle-aged people don't have the same energy they used to,

5:15

and most of them have families to juggle.

5:19

They can't give 100% to work the way someone in their twenties can.

5:25

like working overtime.

5:45

I feel like people around 40 are still okay,

5:49

not a lot of openings, sure,

5:52

but if you're willing to take a pay cut or accept a lower position,

5:57

you might still have a shot.

5:59

But once you're past 45?

6:02

Honestly, there's pretty much no hope.

6:08

You just have to stop looking,

6:10

live off your savings,

6:12

or find something else to do on your own.

6:15

Some people try stock trading,

6:18

some start a little side business,

6:20

and others just check out completely and wait for retirement.

6:31

Of course,

6:32

this is a general phenomenon.

6:34

and it doesn't rule out that highly capable people still have a chance,

6:39

but the thing is most people are not that "exception".

6:53

Recently,

6:54

China's been rolling out new policies to gradually push the retirement age back by five years.

7:05

But during this transition period,

7:08

people my age can still retire at the original age.

7:16

As long as you've paid into the social security system for the required number of years,

7:22

women can retire as early as 50,

7:25

and men at 60.

7:31

Once you're retired,

7:33

you get a monthly pension and healthcare coverage.

7:37

Of course,

7:38

how much you get each month depends on how much you'd contributed over the years.

7:51

So I've got 4 years to go before I can retire.

7:55

That monthly pension will make things a little easier,

7:59

but until then, I'm still stressed.

8:03

I have a daughter to support,

8:05

so I can't just give up and wait it out.

8:18

A few friends in the comments on my previous videos suggested that I start a small business,

8:26

But the truth is I have no experience in running a business,

8:31

and with the economy the way it is right now,

8:34

jumping into something blindly would be way too risky.

8:39

Other friends suggested I pick up some part-time work,

8:43

I've actually been looking for part-time opportunities,

8:47

and if anything comes up,

8:49

I'm not gonna pass on it.

8:54

I also want to say, I feel incredibly lucky.

8:59

After I posted my first video on this channel,

9:02

I got so much support from friends I've never even met, from all over the world.

9:09

You guys gave me advice,

9:12

you gave me encouragement,

9:14

and it really touched me.

9:16

Thanks to your support,

9:18

I've got something to keep me busy now.

9:22

I'm going to keep making videos ,

9:25

though I have to say, my life is pretty boring,

9:29

and I'm a little worried I don't have enough interesting stuff to share with all of you.

9:43

There's a saying in China,

9:45

"Plans can't keep up with changes."

9:49

So, I'm not gonna overthink it for now, I'll just focus on doing what I can do.

10:00

If you're still watching, please consider subscribing, it really helps me out.

10:08

Thank you so much for watching and for all your support💕

10:12

see you next time❤️❤️❤️

Interactive Summary

Yaning, a 46-year-old single mother in China, shares her struggles with long-term unemployment and the systemic challenges faced by middle-aged professionals in the current job market. She explains how economic conditions, the rise of AI, and age-based discrimination create significant barriers for those over 35. Despite the difficulties and the pressure to support her daughter, Yaning finds hope and a new purpose in connecting with her audience through making videos, aiming to focus on the present despite the uncertain future.

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