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.
Peter Knight, Agent, Fishers, IN. This area enjoys low electric rates, so there is little cost difference between the two forms of heating, in fact, cost could favor electric. But Robert Haynes is correct; there is a difference in the air temperature from a heat pump compared to a gas furnace.For comfort, especially if you're cold-blooded, a gas furnace is often preferred.ut Robert Haynes is correct; there is a difference in the air temperature from a heat pump compared to a gas furnace. For comfort, especially if you're cold-blooded, a gas furnace is often preferred.