Richmond Water Heater - Turn up heat?

[otis4949]

I am water heater illiterate - I have a 1996 Richmond Water Heater Model # 5V40-7 and we can barely take a full shower without the water going cold. At the bottom of the W/H there is a dial that says "HOT", "WARM", & "VACATION" - it is currently fixed to the "HOT" setting... is that how you turn the Temperature up and down? OR is there another valve/lever I need to move to generate an increase in hot water?

Thank you for considering my question....

Cold in Colorado

 

[Redwood]

Sounds like a bad dip tube...
Is your serial number between 0893****** to 0397******????
If it's a 96 it is...

Depending on the condition of the water heater replacement is probably the best option.
It's 14 years old...