I have long advocated that you should aim to enter retirement debt-free. This, plus my strong doubt that this is a good time to buy a property, suggest it would not likely prove a good strategy over the next few years.

Regarding your concern that you may have to raise a large amount of cash if your husband's health requires a move into full-time care, if you rely on withdrawing your current super benefits, you will likely need most if not all, thus denuding yourself of a tax-free income stream. So I would prefer that you build up your super.

Assuming your share portfolios produce $60,000 as a 3 per cent dividend yield, then they would be valued at around $2 million, or if 4 per cent, then $1.5 million. This implies that, if you were to plan to withdraw a large amount for your husband (which may or may not be required), you could end up paying a hefty capital gains tax bill when selling shares in one year. So, again, there is good reason to see more of this money in your SMSF.

Since you are obviously comfortable with share investments, and will be working for the next couple of years, one strategy may be to gradually transfer some of these shares into the tax shelter that is your SMSF, or sell the shares and make cash contributions.

As long as you meet the "40 hours in 30 days" work test each financial year until you turn 75, you can contribute up to $125,000 a year, which includes a $25,000 deductible concessional contribution, assuming you have not used the "three year rollup" option in the past two years. Don't forget that, if you earn a $25,000 salary and your employer contributes 9.5pc or $2375 a year, this counts towards the $25,000, leaving you to make a personal deductible contribution of around $22,625, which I suggest you round down to $22,000, just to be on the safe side.

In other words, each financial year, you could transfer up to $125,000 of shares into your SMSF, which you will have calculated to show a net capital gain of no more than $44,000. Of this possible latter amount, half i.e. $22,000, would be added to your assessable income before being eliminated by your $22,000 deductible contribution. It's not as complex as it sounds and you can rely on your tax accountant to work it all out for you.

Then, should the time come that you need to pay a large refundable accommodation deposit to an aged-care facility, there will be less tax to pay if taking some money from shares and some from super.

At the end of February this year I resigned from my management position due to ongoing chronic and debilitating pain. A diagnosis is still not clear; however, I have not ruled out further operations. I own a home worth about $740,000 with a $340,000 mortgage, which I repay at $1650 per month. I have $35,000 in a mortgage offset account, from which mortgage repayments are being drawn. I want to withdraw $30,000 from my superannuation for day to day expenses, hoping this will last for the next 12 months. As the prospect of obtaining any employment is unlikely in the near future, I would like to know what options are available to me. I am a 60-year-old female, and currently not receiving any benefits. If I were to apply to Centrelink for a low income health card, and/or payments, would the $30,000 that I wish to withdraw from the super be taken into account? In the immediate term it looks like I will have to sell the house as I will be unable to continue with the repayments beyond a year at best. C.N.

You should immediately make an appointment with Centrelink, explain your situation and you may be able to claim a disability support pension, which is tax-free, until you reach age pension age, now 65.5.

This will pay around $23,000 a year, possibly reducing by $366 a year if the government proceeds with its plan to eliminate the $14.10 fortnightly energy supplement.

Also, you may, in the past, have been buying salary continuance insurance through your super fund, so check your statements if you have not already done so.

Since you are retired over 60, you can withdraw super benefits at will and I would rather that you simply withdraw your monthly needs until Centrelink benefits kick in, with the intention of keeping your home for as long as possible. You should also discuss your situation with your mortgage lender, who may be able to offer a temporary repayment holiday.

If you have a question for George Cochrane, send it to Personal Investment, PO Box 3001, Tamarama, NSW, 2026. Help lines: Financial Ombudsman, 1300 780 808; pensions, 13 23 00.