Lawrence and Sarah have been married 20 years, and have one son, Carl (age 12). Lawrence is 42, makes $92,000 per year, will retire at age 66, has living expenses of $30,120 per year and will receive social security benefits of $24,520 per year when he retires.
Sarah is 40, makes $20,800 per year, will retire at age 67, has living expenses of $35,800 per year until Carl is age 19. Then her expenses will go down to $30,000 per year. She will receive social security benefits of $12,260 per year (one half of Lawrence's) when she retires.
