In Money, Retirement, Stories, Travel, Travel Series

Travel: What it’s like to visit China – Working into their old age

This is part of my Travel Series.

So here’s a quick chart I created:

(Source: China Daily; but I adjusted the final annual amounts because the monthly numbers didn’t add up to their annual salaries listed in their posted chart.)

As you can see, they have an average salary in the richest cities in China, that is considered far below our poverty line.

Yet they manage to save almost 49% of their income.

Read: Global savings rates: How much do people save around the world?

Shanghai-China-Photograph-Recycling-Old-Man

 

Many old women work well into their old age, like these old women who (probably) can’t afford to retire.

She’s still running a restaurant outside:

Shanghai-China-Photograph-Restaurant-Old-Woman-Kitchen-2

Shanghai-China-Photograph-Restaurant-Old-Woman-Kitchen

This one is making packed (rice?) and pork packages that will be steamed to eat:

Shanghai-China-Photograph-Old-Woman-Selling-Food

 

 

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Sherry of Save. Spend. Splurge.

Am my own Sugar Daddy. Am a millionaire at 36 after getting out of $60K of student debt in 18 months, a little over a decade earlier, using TheBudgetingTool.com. I have worked 50% of my career (taking 1-2 year breaks), and quadrupled my income within 2 years of graduating, going from $65K to $260K with an average lifetime savings rate of 50%. I have 11 side incomes that are on track in 2020 to make me $50K - $75K. I could retire today if I wanted, but love my work-life balance as a freelancing consultant in STEM (Science, Technology, Engineering, Math). I am all about balance - between time and money, and also enjoying my money. I also post daily on Instagram @saverspender.

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6 Comments

  1. Alexis

    I love how different China is depending on what part you are in. It’s like travelling to so many different countries when you’re actually only in one.

    Reply
    1. save. spend. splurge.

      Japan is like that too. 🙂

      Reply
  2. Petrish @ Debt Free Martini

    I am currently living in Japan and the people also work way into their elderly age. At the same time it is so beautiful to watch them still exercise on a regular basis and enjoy their lives. Americans can learn a lot on how to grow gracefully from these cultures.

    Reply
    1. save. spend. splurge.

      Japan takes care of their elderly much better than in China, though..

      Reply
  3. Clarisse @ Make Money Your Way

    Here in our country, which is an Asian country too, you can also find old people who are still working. Some of them have a difficult job, but they don’t have any choices.

    Reply
    1. save. spend. splurge.

      That’s why they have so many kids

      Reply

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