The worksheet assumes that youâll need to replace about 80 percent of your pre-retirement income. Social Security retirement benefits should replace about 40 percent of an average wage earnerâs income after retiring. This leaves approximately 40 percent to be replaced by retirement savings. Keep in mind, this is an estimate and you may need more or less depending on your individual circumstances.
Equipment Costs. The average price for a new gas furnace ranges from around $2,300 to $3,000 depending on manufacturer according to a November 2012 article by Consumer Reports. Qualitysmith.com estimates the cost of a new electric furnace at $1,000 to $1,500 as of December 2012.lectric space heaters all have AFUE ratings of 100 percent. Assuming an electric heater with 100 percent efficiency, homeowners should expect to pay roughly $34.32 per million BTUs of heat. Natural gas is generally sold in therms, where one therm is equal to 100,000 BTUs.
The bigger the heater, the longer they take to heat up the water. Gas Heater. The average gas heater takes between 30 and 40 minutes to fully heat up the water in its tank. Electric Heater. The average electric heater takes about twice as long as the average gas heater to fully heat up the water in its tank, so you can expect it to take between an hour and an hour and 20 minutes to heat up. Solar Heater