Thanks for sharing that with me. I am in a similar position where I still have 2 children going to a private school, then I suppose Uni will be next and there own cars.
I did an estemate an need approx $65,000. My wife does some casual work which brings in about $25,000.
Its a little bit scary as I am just starting off along this track of transfering my life savings into my SMSF and converting the whole thing over to Pension phase next month.
So I need to set it up in the right manner. I thought 2 years worth of cash was a bit extreme. I also need to work out the timing of dividend payments and franking credits.
I am a little lucky as my health is still OK and with a trade I will be able to get my tools out again if it becomes really necessary.
