I’m 63, just announced my retirement and got fired. Is that allowed, and what should I do now?

Core Insights - The article discusses the implications of unexpected job termination for older workers approaching retirement, highlighting legal recourse and financial planning options available to them [2][3][4]. Group 1: Employment and Legal Rights - Many states operate under at-will employment laws, allowing employers to terminate employees without cause, which can lead to unexpected retirements for older workers [3]. - If an employee is terminated to prevent pension vesting or due to age discrimination, they may have legal grounds to challenge the termination under the Age Discrimination in Employment Act (ADEA) and Employee Retirement Income Security Act (ERISA) [2][3]. Group 2: Financial Planning and Health Coverage - Employees facing termination before retirement should negotiate severance packages, including health coverage, to avoid the need for private insurance [1][5]. - The Consolidated Omnibus Budget Reconciliation Act (COBRA) allows for the continuation of health coverage, but it may require the employee to pay the full premium, which can be financially burdensome [5][6]. Group 3: Emergency Funds and Investment Strategies - Financial experts recommend maintaining an emergency fund of 12 to 18 months' worth of expenses to ensure stability during unexpected job loss [17]. - Investing in safe-haven assets like gold can provide stability and hedge against economic uncertainties, with options like gold IRAs offering tax advantages [13][14].