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You’re not wrong, it is becoming the exception. The cost of just existing has skyrocketed, and most families I know need two incomes just to keep up. As a work mother, I chose to work from home to help in the family expenses, but in the same time I work part-time to be present with the kids.
Yes, $100k is considered the middle class…and even that is tight depending on your local and family
Seems like it’s becoming increasingly difficult
Now that we have kids, absolutely. There's no way we would have been able to afford a 4 bedroom house on one income alone. If we didn't have kids, we could probably have found a way to make it work, but as is, it's not possible.
So I was the stay at home mom for a number of years and it was tough to only have one income! Once our kids were older I started working, slowly. Now that we have 2 incomes, or 1 ½ is more accurate, I can’t imagine going back. Moral of the story is that once you get used to it, it's hard to go backwards.
It really depends on what your baseline for living is and what your definition of living comfortably is. Personally, I gave up my salary ($80K) to keep my husband's salary only ($110K) so I can stay at home with the kids because that was more important.
This is a rookie advice but your son's well-being is more important than money.
Your wife can try to find a part-time job so ur financial needs and ur kid's needs are fulfilled.