Visa CEO Ryan McInerney cited one reason for strong U.S. card spending on the company’s October earnings call: jobs.

“Anyone in this country who wants a job, for the most part, has a job,” he told analysts as Visa reported U.S. payment volume up 10%.

For workers 55 and older, the headline numbers back him up. Their unemployment rate was 2.6% in September, according to an AARP analysis of federal data, below the 4.2% rate for all workers.

The harder number shows up after a layoff, especially for workers ages 55 to 64.

In September, unemployed Americans ages 55 to 64 had been looking for work for an average of 34.9 weeks, compared with 25.4 weeks for jobseekers overall, according to Bureau of Labor Statistics data.

Half had been looking for 11.9 weeks or less, close to the 12.1-week median for all jobseekers, but the longest searches pull their average far higher.

An average search can outlast unemployment checks

Most states pay regular unemployment benefits for no more than 26 weeks.

As of September, 33 states offered up to 26 weeks. Massachusetts offered 30, and 16 states offered fewer, with Florida, Louisiana, North Carolina, and Tennessee at just 12, according to the Center on Budget and Policy Priorities.

For jobseekers ages 55 to 64, the average search lasts 34.9 weeks, past the regular maximum in every state.

That makes the first claim worth filing right away, even with severance on the table. States treat severance differently, and the state unemployment agency, not the former employer, decides how it affects benefits.

Take the full time on a severance agreement

Workers 40 and older who are asked to give up age discrimination claims in exchange for severance get protections under federal law.

The employer must advise them in writing to consult a lawyer, give them at least 21 days to consider the offer (or 45 days if the layoff is part of a group program), and allow seven days to revoke after signing.

In a group layoff, the employer must also disclose the job titles and ages of everyone selected and the ages of those in the same job classification or unit who were not. That list can show whether cuts hit older workers hardest.

The review period is also time to ask for extended health coverage, outplacement help or a payment date in the next tax year.

Choose health coverage on purpose

Losing job-based coverage opens a 60-day window to enroll in a Marketplace plan after that coverage ends, and CMS says you can file an application up to 60 days before. COBRA keeps the same plan, often at the full cost of the coverage.

A household whose income drops may qualify for help paying Marketplace premiums, and open enrollment for 2027 coverage runs from Nov. 1 through Jan. 15 on HealthCare.gov.

Know the 401(k) rule before rolling over

Workers who leave a job in or after the year they turn 55 can generally withdraw from that employer’s 401(k) without the 10% early withdrawal penalty under an IRS exception. The exception does not apply to IRAs.

Rolling the whole balance into an IRA right away can mean waiting until age 59½ to tap it penalty-free.

Which account to draw from first, and whether to roll over at all, are decisions where a professional second opinion can help. If you have $100,000 or more in investments, SmartAsset offers a free matching service that connects you with up to three fiduciary financial advisors who are legally required to act in your best interests.

The questionnaire takes about 10 minutes, asks for a phone number near the end, and lets you decide whether and when to respond to any advisor.

Bridge the gap before claiming Social Security

Claiming early to cover a gap is the decision that lasts longest, because claiming Social Security early after a layoff can lock in a smaller check for life.

Unemployment benefits, severance and a penalty-free 401(k) withdrawal can bridge the months a search can take, and a resume built for an older worker can help shorten them.

Each of these clocks runs on its own schedule: 21 or 45 days from a severance offer, 60 days from the end of job-based coverage to pick a Marketplace plan, and a benefit count that begins with the first claim.