Survivor Income Planner

What it does

Models the income drop a surviving spouse faces when one partner dies. Pension survivor benefit (often 50% of original), Social Security rule (survivor keeps the LARGER of the two checks, not both), and reduced single-person expenses.

Who this helps

Married retirees planning for the inevitable. The income cliff hits the surviving spouse hard — usually a 30-40% drop in household income that has to be planned for, not absorbed.

How to use it

1. Enter both spouses' pension monthly amounts and the survivor % election (e.g., 50% J&S).
2. Enter both Social Security checks.
3. Enter joint living expenses now and what the survivor expects to spend (typically 75-80% of joint).
4. Read all three scenarios: both alive, you survive, spouse survives.

What it doesn't do

Doesn't model the tax-bracket shift from MFJ to Single (single brackets kick in at lower thresholds — surviving spouse pays more on the same income). Doesn't model life insurance proceeds; consider those as a separate liquidity layer.