Would your employer be willing to chip in toward the education of your children? Or, provide you with health insurance for the whole family. I wouldn't rule out being able to live on the amount your suggested, but I don't know what sort of a quality of life it would buy you. We struggle on my husbands wage but there are three of us. Clothing is relatively cheap and so is travel witg a half tax card. Think carefully and don't rule out local schools.
Good luck with your decision