Lately I've been looking into ways to lower the electric bill. I happened to notice that the water heater we have was manufactured in 1988. It still works great and the previous owner must have taken care of it. The heat is turned down on it a lot and so is the water pressure. Its also hooked up to a timer. It does not have an insulated blanket on it or the pipes. Should I just keep this thing since its working well..? Or replace it because its outdated?