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.
According to the U.S. Department of Energy, heating a pool with 1,000 square feet of surface area with an electric resistance or gas heater costs around $500 per month, compared with the much lower expenditure of roughly $100 for a heat pump.eat pumps can cost up to $5,000, while the majority of gas and electric resistance heaters are available for around $1,000 and $2,000 respectively. The cost for installing heat pumps and gas heaters averages about $300 to $500, including labor and materials.