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.
Cost per kilowatt hour will determine how much it costs to run an electric heater. All electric heaters run on the principle of turning electricity into heat. The most common way to do this is to power up a wire coil and then use a small built-in fan to blow the heat out of the heating enclosure.ind out what you are paying your local electric company per kilowatt hour. For example, in San Francisco, the average cost of a kilowatt hour is 20 cents per hour.