How long should my emergency fund last after a layoff?

Financial advisors recommend 3–6 months of expenses as a baseline, but the average job search takes 3–6 months for mid-level roles and up to 9–12 months for senior positions. This calculator shows your exact runway based on your real numbers.

How much does COBRA cost after a layoff?

COBRA costs 100–102% of the full premium — you pay both your share and your employer's former contribution. Average COBRA in 2026 is $685/month individual, $1,950/month family. ACA Marketplace plans with subsidies are often much cheaper.

How do I calculate my unemployment benefits?

Most states pay 40–60% of your prior weekly wage up to a state maximum cap. Benefits typically last 12–30 weeks. This calculator estimates your benefit based on your salary and state.

What should I do financially immediately after a layoff?

(1) File for unemployment immediately — every day you wait is lost money. (2) Evaluate COBRA vs ACA within 60 days. (3) Calculate your exact runway so you know how urgently you need to job search. (4) Do not touch your 401(k) early.

Should I use my 401(k) after a layoff?

Generally no — early withdrawals before age 59½ incur a 10% penalty plus income tax, effectively losing 30–40% of the value. Exhaust all other options first.

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Layoff Survival Calculator —
How Long Will Your Money Last?

Enter your real numbers and get your exact financial runway, estimated unemployment benefits, COBRA vs ACA costs, a 48-hour action checklist, and a month-by-month survival timeline. Know exactly where you stand.

✓ Unemployment Estimator ✓ COBRA vs ACA ✓ Month-by-Month Timeline ✓ 48-Hr Action Checklist ✓ All 50 States

📊 Your Financial Situation

Updates in real time as you type

Savings & Severance

Total liquid savings ($)

Checking + savings. Don't include 401(k) or retirement accounts.

Severance (weeks) 0 if none. Review before signing — it's negotiable.

Prior annual salary ($)

Monthly Expenses

Rent / Mortgage ($)

Food & Groceries ($)

Utilities & Bills ($)

Transportation ($)

Subscriptions ($)

Debt payments ($)

Cards, student loans, car loan

Other monthly ($)

Legal Protections & Rights

How many people were laid off at your location?

Used to check WARN Act eligibility

Did you receive 60 days written notice?

Your age

Determines OWBPA severance review rights

401(k) balance (optional)

We'll show the real cost if you withdraw early

Health Insurance & State

Your State

Coverage type

Had employer health insurance?

Your Financial Runway

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months

Calculating...

Enter your numbers above — results update live.

📬 Est. Unemployment Benefit

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Weekly · file immediately after layoff

💰 Severance Total

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Read it carefully before signing

🏥 COBRA vs ACA

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Decision needed within 60 days

🔻 Monthly Burn Rate

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Total monthly expenses

📉 Net Burn (with UI benefits)

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Monthly shortfall after unemployment

⚡

Your First 48 Hours — Action Checklist

Check off as you complete each step

File for unemployment Do today

Go to your state's unemployment website. Takes ~20 minutes. Every day you wait = lost money you can't recover.

Evaluate COBRA vs ACA health insurance 60-day deadline

Your layoff is a qualifying life event. Compare costs at healthcare.gov. ACA is often cheaper — especially if income drops.

Review (and negotiate) your severance Before signing

You have 21–45 days to sign. Ask for more weeks, extended benefits, or accelerated equity. Never sign on day one.

Audit and cut subscriptions This week

Pause or cancel everything non-essential. Even $200/month saved adds ~2 weeks of runway over a 6-month search.

Call debt servicers about hardship programs This week

Most credit cards, student loans, and car lenders have hardship deferral programs. Call proactively — they're much more helpful before you miss a payment.

Protect your 401(k) — do not withdraw early

Early withdrawal = 10% penalty + income tax = losing 30–40% immediately. Roll to an IRA instead. Last resort only.

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⚠️ WARN Act May Apply to Your Layoff

Based on what you've entered, your employer may have been required to give 60 days written advance notice under the federal WARN Act (mass layoffs of 50+ employees). If they failed to do this, you may be entitled to up to 60 days of back pay and benefits — regardless of any severance you received.

Action: Contact an employment attorney — many offer free consultations for WARN Act cases. This is time-sensitive.

🛡️ OWBPA Protections Apply — Do Not Rush Your Signature

Federal law (the Older Workers Benefit Protection Act) gives workers 40 and older at least 21 days to review a severance agreement — 45 days if this was a group layoff affecting multiple employees. You also have 7 days to revoke after signing, even if you've already agreed.

Do not sign your severance agreement the same day you receive it. Read it carefully. Consider having an employment attorney review it — the cost is often far less than what additional negotiation can recover.

🚫 Before You Touch Your 401(k) — See the Real Cost

Early withdrawal before age 59½ triggers a 10% IRS penalty plus ordinary income tax (typically 22–32%). On your balance:
— is what you would lose immediately in penalties and taxes. That money is gone permanently — and it's not just the loss today. That same amount left invested at 7% average growth would become — by retirement.

Exhaust all other options first: unemployment benefits, severance, expense cuts, home equity, personal loans. The 401(k) is the last resort.

⚡ Your Personalized Action Plan

Based on your numbers · in priority order

Enter your numbers above — your personalized plan will appear here.

📅 Month-by-Month Survival Timeline

Timeline will appear after entering your numbers.

What to do financially in the first 48 hours after a layoff

The decisions you make in the first two days after a layoff have an outsized impact on your financial survival. Most people make at least one costly mistake — usually waiting to file for unemployment or making a panicked decision about health insurance. Here's the correct sequence:

Day 1: File for unemployment immediately. Every state has a waiting period (usually 1 week) before benefits start. Every day you delay filing is a day of benefits you permanently lose. In most states you can file online in under 30 minutes.
Day 1: Do not touch your 401(k). Early withdrawals before 59½ trigger a 10% penalty plus income tax — effectively losing 30–40% of the value.
Day 2: Evaluate health insurance within 60 days. A layoff is a qualifying life event for ACA Marketplace enrollment. COBRA is often much more expensive — compare both at healthcare.gov before deciding.
Day 2: Calculate your exact runway. That's what this tool is for. Knowing your precise number removes anxiety and lets you job search from a position of calm clarity.

How to estimate your unemployment benefits

Unemployment benefits are calculated by your state. Most states pay 40–60% of your prior average weekly wage, up to a state maximum cap. Duration ranges from 12–30 weeks. For example: earning $85,000/year ($1,635/week), New York pays up to $713/week. The same worker in Mississippi gets at most $235/week — a nearly 3x difference based purely on location.

COBRA vs ACA Marketplace after a layoff

COBRA lets you keep your exact employer plan but at full cost — typically $685–700/month for individuals and $1,900–2,200/month for families. ACA Marketplace plans often cost significantly less, especially when your income drops substantially after a layoff — premium tax credits can reduce monthly costs to $0–200 for many people. Compare both options within 60 days of your coverage end date.

How to extend your financial runway while job searching

Pause non-essential subscriptions immediately. Streaming, gym apps, news subscriptions — cut or pause everything that isn't housing, food, utilities, or insurance.
Call your debt servicers proactively. Most offer hardship programs for customers who call before missing a payment. Federal student loans have income-driven repayment that can reduce payments to $0.
Negotiate your rent if you can. Landlords often prefer a temporary reduced payment to finding a new tenant. A 60-day reduced rate while you search costs them nothing and gives you breathing room.
Consider freelance or contract work. Even $1,000–1,500/month in part-time freelance income extends a 6-month runway by 2–3 additional months.

Frequently Asked Questions

How long does the average job search take after a layoff?

Entry-level: 1–3 months. Mid-level: 3–6 months. Senior/Director: 4–8 months. VP+: 6–12+ months. Plan for the longer end — financial stress mid-search leads to accepting the wrong offer.

Should I negotiate my severance package?

Yes — most people don't, but it's often negotiable. Common asks: additional weeks of pay, extended health insurance, accelerated unvested equity, keeping company equipment. You typically have 21–45 days to review. Never sign on day one.

What happens to my 401(k) after a layoff?

It stays yours. Your options: leave it with your former employer (fine short-term), roll it to your new employer's plan, or roll it to an IRA (most flexible option). Never cash it out early — the 10% penalty plus income tax means losing 30–40% immediately.

Can I collect unemployment while doing freelance work?

Yes in most states, but you must report the income. Your benefit is usually reduced by the amount earned above a small threshold. This is called partial unemployment — it's almost always worth doing freelance work anyway since you keep some benefit plus the income. Report honestly; underreporting is fraud.

Is my data private?

100% private. All calculations run entirely in your browser. Nothing is sent to any server. LayoffSurvival has no backend, no accounts, and no analytics on your personal numbers. Your financial data never leaves your device. Use the Export button to save a backup file.

How does a layoff affect my taxes?

Unemployment benefits and severance are both taxable federal income. However, your lower annual income may put you in a lower bracket, partially offsetting this. For freelance income, you'll owe self-employment tax (15.3%). Consider quarterly estimated payments if you earn significant freelance income during your search.