A very wise move on the part of yourself and wife. I can't express to you how much better it is to be in the position of controlling your own destiny.
I don't know how much interest you take in stocks and shares but I will assume that the fact you are at H.C. you have more than a passing interest.
Chappy58 & edj99 gave you some good pointers (imo) and while good "Blue Chip" dividend paying stocks with franking credits are a great way to start, if you have a stock or two in mind that you have researched well and that you consider has tremendous upside potential with low downside risk, you might consider a parcel or two to kick your super along. Now I know that the idea is to keep your investments as low risk as possible but a small parcel can't do any harm.
Without wanting to big note, I have had a few of these kind of stocks in my SMSF (but i also had more than 50k in my fund at the time to allow me a little more freedom) and the end result is one of these stocks has ended up becoming a super dividend paying stock for me, all inside 3 years. For each dollar invested is now worth $11.50 - not taking into account all the fully franked dividends received.
I have about 50% / 50% invested in shares and fixed deposits.
