Seperate Speakers from Headphones

Hello.

Okay so here is the issue.

I would like to have my headphones and speakers playing at the same time, but for different applications. For example, I would like to use my Razer Carcharias headphones for applications such as TeamSpeak or Hangouts so that others in my house hold cannot hear others in chat. I also have speakers in which I would like to use for the audio of Pandora or even video games.

I know there is a way to do this by going into my sound settings for Windows 7. The real issue lies in selecting the playback device in the Stereo Mix Properties. The drop down menu only shows the speakers. I figured it might be a driver issue with my headset, however Razer options in the Synapse 2.0 show the only selected audio source option as Speakers(Realtek High Definition Audio). I know of someone that used to have it set up the same way with their headset and speakers so I know there is a way, but I am now lost on what needs to be done. It may also be helpful to know that my Speakers mentioned are only Water Speakers so they do not have a specific driver associated.

Thank you in advance.
Krumpuppy