My job is going away in a couple of months. I've always been a frugal saver type so this isn't a crisis, and may be an opportunity to try some consulting work I've always wanted to do. Emergency fund, retirement and taxable savings are all in good shape, along with a couple of passive income streams, no debt other than mortgage, and relatively low regular expenses, so I feel like I have some time and flexibility. I'm curious what other Mustachians might do in my position to maximize financials during this transition period. For example, should I adjust my 401K withholdings way upward to get as much as possible in there in the two months I have remaining, since I likely won't have access to another 401K anytime soon? Also, I'll be getting some severance, and I'm wondering if I should add it to my emergency fund just to be safe, or invest it either lump sum or DCA through the end of the year. And I got a tax refund of a few thousand this year so I'm wondering if I should adjust my withholdings so that the remaining checks I receive are bigger.
I'll need to buy health insurance, and don't expect that the consulting work will replace my salary anytime soon, but I think I can cut expenses enough to get by while it gets up and running, so I'm hoping I won't even need to tap the emergency fund. But, you never know when a major expense will knock you for a loop.
Thoughts?