Advice bits from one who went through this ...
The totality of severance will likely not be enough to get you by until you find a replacement gig. It is different for every individual, as the OP suggests. Be sure to ask for specifics - and write them down - when given the opportunity to do so. As what date the severance kicks in (can take up to a month to begin), what date is slated a the last date of payment, and verify whether it will be one or two weeks for every year served.
DO take advantage of whatever career services are offered. Even if it's just resume rewrite coaching. If it has been a while since you have looked for work, be prepared for a mild shock - the process has changed greatly in recent years.
Take careful note of all specifics regarding Health Care and 401K Savings – be careful to note end dates and check your pay stubs very carefully. Many people during the last Pearson layoff had difficulties with timing and/or accuracy - e.g. the Insurance monies were still being deducted from the paycheck even while the employee's coverage had been terminated. Make sure now you know who to call down the line with questions and for problem resolution.
In some states, severance payouts will clash with unemployment eligibility, in other states it will not. If you are not sure, make checking with your local unemployment office a priority. You should apply for unemployment as soon as possible, e.g. just after being laid off or right when the severance payments stop.
Consider getting a part time or temporary job while looking for a permanent position. You might do this now or wait until unemployment runs out (6 months, in most cases). A "dumb little job" keeps you on a schedule and keeps a little money flowing in while you are interviewing for a new permanent position.
Finding a satisfactory new position can take some time. Figure one month for every 10,000 in salary being sought, that is the loose rule of thumb. In other words, a $60,000 position may take you a good six months to land. Personally it took me one year and one month to land my current role, but I was doing a rather insanely-restricted career search (confined almost exclusively to HED publishers). Truth is, most companies are very, very slow in moving through the hiring process. Many will take at least 3-4 months before deciding on their ideal candidate - often it's even longer!
This should go without saying, but be sure to mind your manners as you search. ALWAYS do a follow-up or "thank you" note after each interview or substantial contact. Seek to create a lasting and positive impression, as you never know who you are talking to. The people who eventually hired me were ones who passed me over for an earlier role I had sought with them.
Good luck! You'll be fine!
I think many of us will find this post useful. Good advice @11MHsWVw-ftp