"Financial Advisor's Guide: Navigating Layoffs Near Retirement"

If you're laid off near retirement, there are six important steps you should take. First, assess your current financial situation by calculating your savings and expenses. Adjust your retirement plan if necessary, considering changes to your retirement age and investment strategy. Use your emergency fund judiciously to cover immediate expenses, avoiding tapping into retirement savings if possible. Understand your severance package and explore options for continued health insurance coverage. Decide if you want to continue working or if early retirement is feasible. Lastly, prioritize self-care to stay focused and motivated during your job search.