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Here's how much you need to retire in Pennsylvania, New Jersey and Delaware

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Here's how much you need to retire in Pennsylvania, New Jersey and Delaware


We all dream of the day we can finally stop setting an alarm to sit at a desk five days a week, but how much does it actually cost to retire comfortably these days?

A recent study revealed what you need for 20 years of comfortable retirement, along with how much you need to save monthly. Here are the numbers for Pennsylvania, New Jersey and Delaware:

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By the numbers:

New Jersey residents will have to save the most among the three states, but it’s not the only one that requires more than $1 million in savings.

New Jersey

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  • Cost of 20 years of comfortable retirement: $1,567,009

How much you need to save monthly for 20 years of comfortable retirement (through age 85):

  • If you start at age 20: $2,902
  • If you start at age 30: $3,731

Delaware

  • Cost of 20 years of comfortable retirement: $1,073,314

How much you need to save monthly for 20 years of comfortable retirement (through age 85):

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  • If you start at age 20: $1,988
  • If you start at age 30: $2,556

Pennsylvania

  • Cost of 20 years of comfortable retirement: $734,378

How much you need to save monthly for 20 years of comfortable retirement (through age 85):

  • If you start at age 20: $1,360
  • If you start at age 30: $1,749

Want to enjoy your retirement in Florida instead? It will cost you less than staying in New Jersey with a total of $1,132,118!

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Dig deeper:

Based on the retirement age of 65, and the life expectancy of 85, GOBankingRates determined the amount you need to save monthly for a comfortable retirement by analyzing data from the U.S. Census American Community Survey, the Missouri Economic and Research Information Center, the Bureau of Labor Statistics Consumer Expenditure Survey, the Zillow Home Value Index, the Federal Reserve Economic Data and the Social Security Administration.

The Source: Information from this article was sourced from GOBankingRates.

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Delaware

Thomas Jefferson University to run Delaware’s first medical school

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Thomas Jefferson University to run Delaware’s first medical school


Thomas Jefferson University is opening a regional campus of its Sidney Kimmel Medical College in Delaware, an effort that will result in the state’s first medical school.

Jefferson beat out three other bidders to establish the four-year program in partnership with the state. The other bidders were the Philadelphia College of Osteopathic Medicine, the consulting firm PriceWaterhouseCoopers and Ponce Health Sciences University in Puerto Rico, Spotlight Delaware reported.


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The inaugural class of 40 medical students will begin instruction in July 2028. Initially, the campus will be based at the University of Delaware in Newark, with Jefferson faculty providing instruction. A permanent home for the campus is still being finalized, the Inquirer reported.

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The medical students will receive 18 months of preclinical training on campus before receiving clinical training from healthcare providers in Delaware’s southern counties, where the state’s physician shortage is most deeply felt. That shortage is compounded by an aging population, Delaware officials said.

“Jefferson is committed to being part of the solution to Delaware’s physician shortage,” Jefferson CEO Dr. Joseph Cacchione said in a statement. “We are proud to help build a future where every Delawarean has access to the care they deserve. Jefferson is all in.”

The school’s creation is being supported by $157.4 million from the Centers for Medicare and Medicaid Services.

Delaware is one of three states without a Doctor of Medicine or Doctor of Osteopathic Medicine program. Since the late 1960s, Jefferson and the Philadelphia College of Osteopathic Medicine have reserved seats for Delaware students.

“Sidney Kimmel Medical College has trained generations of physicians for more than 200 years, more than any other medical college in the country,” Said Ibrahim, dean of Sidney Kimmel Medical College, said in a statement. “It is a privilege to bring our mission to Delaware’s patients and communities.”

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Jefferson has announced several expansions recently. The university is establishing a full-time doctor of nursing practice-nurse anesthesia program and several online graduate programs at the Lehigh Valley Health Network Center for Healthcare Education in Lehigh County. It also is opening a satellite respiratory therapy lab at Lehigh Valley Hospital-Cedar Crest in Allentown.



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Delaware is getting its first medical school, with classes set to start in 2028

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Delaware is getting its first medical school, with classes set to start in 2028


Delaware officials said medical students will start their classroom instruction at UD and then do their clinical training at offices and health care systems in Kent and Sussex counties, where the shortage of doctors is most acute.

However, ChristianaCare, which has its own partnership with Jefferson, is not participating. The state’s largest health care system was part of Philadelphia College of Osteopathic Medicine’s unsuccessful bid to operate the school. In a joint statement from ChristianaCare and PCOM, the two organizations expressed disappointment with not being part of the consortium of higher education institutions and healthcare organizations.

“The path forward raises genuine questions about whether the school’s goals can be fully realized without ChristianaCare’s meaningful participation in its clinical training mission,” it said. “The success of any four-year medical program depends not just on an academic institution, but on a true and committed partnership with its clinical partners — one built on shared mission, mutual investment and trust developed over time.”

Students in the first class can get their tuition subsidized, covering all of their education costs, in exchange for an agreement to work in rural Delaware for five years.

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Running the medical school is expected to cost Jefferson $78 million over the next five years. The money is from a federal rural health grant through the Rural Health Transformation Program, which congressional Republicans created in the so-called “One Big, Beautiful Bill Act.”

The program will give $50 billion to every state over five years, though exactly the total each will eventually receive is unclear. Half of the money is to be distributed equally to states and the other half is awarded by the Centers for Medicare and Medicaid Services based on a variety of factors.

The state applied for $1 billion late last year to improve health care in Kent and Sussex counties. The Trump administration has so far allocated Delaware $157 million. Delaware is expected to receive at least $500 million over the life of the fund.



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Crash closes U.S. 42 in both directions in Delaware County

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Crash closes U.S. 42 in both directions in Delaware County


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A crash shut down U.S. 42 in Delaware County in both directions June 2.

As of 7 a.m., U.S. 42 was closed from U.S. 23 to Jegs Place near the Delaware Municipal Airport.

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It was not immediately clear whether anyone was injured in the crash or when the roadway would open.

This is a developing story and will be updated

Public Safety and Breaking News Reporter Bailey Gallion can be reached at bagallion@dispatch.com.



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