The 32-year-old midfielder has been dropped into the free agent pool at the end of his contract at the Madejski Stadium.
Reading have shown him the door after five years, but he is not the only senior figure to have missed out on fresh terms.
Kaspars Gorkss (32), Mikele Leigertwood (31), Stuart Taylor (33) and Wayne Bridge (33) have also moved on, and McAnuff feels experience did them few favours at a club looking to cut costs on the back of a season which saw them fail to secure an immediate return to the Premier League.
He said in the Reading Post: "I don't know what the club's situation is financially, but looking at the ones let go, it (age) has to have a bearing on it.
"Not going up is going to have implications which we have found.
"There seems to be an issue with the age situation, but I feel as fit as I've ever been.
"In this day and age you can have all the stats, but unfortunately it's one of the things you come up against."
McAnuff hopes other clubs will consider him to be a useful asset, but admits finding a new employer may not be entirely straightforward.
He added: "It's the first time I've been out of contract at the end of the season, not having anywhere to go for definite come July.
"So it's a new situation for me and hopefully I can get something sorted out sooner rather than later.
"I think it (the way contracts are given out) has changed.
"You look at people who have come out. We've seen Chris Baird first hand, who went from playing regularly in the Premier League over the last five or six years to struggling to get a job at the start of the year.
"He's managed to get something with Burnley and gone up with them.
"I've got friends who have had the same. They've been out of contract and a few years ago they would have nicked a two or three-year contract and been alright."