Anyone in their mid-late 40s feel a rising sense of anxiety about your age in this business and the prospect of “aging out”? If so, what’s your plan to continue your career?

I for one don’t ever want to be in a situation where I’m in my 50s and get laid off in advertising (let alone any business, but particularly this one.)

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EVERYONE should be aware of this.
And it’s not aging out because of relevance, it’s because of price.
In this business, rabid focus on individual billability means senior, valuable employees are suddenly “too expensive” and that affects older employees most.
Large, publicly-owned firms are the biggest culprits. And they end up discarding decades of wisdom.
Some day, a wise CEO will develop a system of ramping down hours - and pay - for this group, a pragmatic win-win for both.

likesmart

This is pure genius!

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I left agency life at 56, by mutual decision. I now work freelance.
I was happy and relieved to go.
My advice to anyone who fears ageing out would be:

1. Don’t be delusional and think ‘it won’t happen to me.’ It will. OP - you’re ahead just by being aware of your career mortality.

2. Try to get the best contract you can. I negotiated a much longer notice period/severance package 10 years before I left. Employers will often agree to this as it costs them nothing until they try to terminate you.

3. Prepare for life outside an agency: start a company. Build a website. Feed your network. Do a side-hustle. This will give you a sense of security.

4. If you can, save enough now to fall back on so the thought of redundancy isn’t so terrifying. Most senior folks are managed out due to cost, so make use of that money they pay you each month.

5. Carry on doing what you’re good at and providing value.

Good luck. Managed properly, ageing-out can be a blessing not at curse.

likehelpfulsmart

Great advice. And saving money NOW is urgently important. My husband thought I was insane when I told him I was saving and investing 33% of my salary every year. On top of maxing my 401k. Now that we are less than 10 years from that 65 age, he is damn glad we have such a lovely nest egg.

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100%. Just waiting for them to find me out and give me the stanky boot.

likesmart

Nope. There are tons of older people in healthcare advertising.

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Yes, yes I do.

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How should I think about savings especially as layoffs may be happening more?

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- 45k student debt
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- cost of living( rent, food, etc): 3000 / month (the rest has been going to debt)
Should i keep a savings account and not pay debt ? Get LOC ? Safe investments? Anything else ?
Thanks

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