A recent study has revealed the cost of a comfortable retirement lasting 20 years in Pennsylvania, New Jersey, and Delaware. New Jersey residents will need to save the most, with a total of $1,567,009 required for retirement. In comparison, Delaware retirees will need $1,073,314, and Pennsylvania retirees will need $734,378. The study also outlines the monthly savings required for a comfortable retirement until age 85, with savings ranging from $1,360 to $3,731 depending on the age at which saving begins.
For those looking to retire in Florida, the total cost is $1,132,118, making it a more cost-effective option than New Jersey. The study was conducted by GOBankingRates, using data from various sources such as the U.S. Census American Community Survey and the Bureau of Labor Statistics Consumer Expenditure Survey. These numbers provide valuable insight for individuals looking to plan for a comfortable retirement in these states.
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