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Kiplinger
Kiplinger
Business
Maurie Backman

I'm 59 With $1.7 Million Saved and Just Lost My Job. Should I Retire at 59½, or Find New Work?

A laid-off mature office worker carries his belongings in a box as he leaves.

Question: I'm 59 with $1.7 million in savings and just found out my team is being phased out in January. I'm getting a six-month buyout package. Should I just retire at 59½, or try to find another job?

Answer: The U.S. economy is generally in a good place, and the unemployment rate is fairly low. Yet many people are worried about layoffs going into the new year.

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