I reckon this article is unduly pessimistic: The retirement savings safety measure, July 22. I started an SMSF in 1997. Shares 85% balance cash. I retired April 2005, just before my 62nd birthday, with a balance of $1096000, split between my wife and myself. I have made some horrible mistakes over the years by hanging on too long eg Babcock&Brown $80000 down the toilet, and quite a few others of losses between 30000-50000. Since retirement we have drawn $1012535 to date, with a current balance of $1055000. Scott seems to make the assumption that after retirement you no longer make profits, income, and franking credits from the market.