People can survive off 40k a year. This new generation has such twisted views of how EVERYONE should be equal and entitled to this AMAZING life with houses and expensive cars. If you don't have the skills or work ethic to make 100k 200k 300k then you don't live like that.
My point is IMO having my wife at home caring for the house and kids are providing a MUCH better life and upbringing even if we were living in a rented apartment with one car vs the COUPLE that both worked to make more just to have their kids being raised by strangers in day care so they can drive used Infinitis and have a designer bag.
Whether a family makes 20k a yr or 200k a yr they should live within their means to allow the wife to care for the family to provide a better upbringing and more consistency for the children.
ugh...I'm talking about for a FAMILY. You're telling me that you can pay a mortgage, car note and car repairs for TWO cars , student loans, the high cost of food, house repairs, appliance and house general upkeep and maintenance ( like gutters, roofing, lawncare, painting, remodeling etc) saving for you AND your wife's retirement ( if you insist that she has no job remember YOU are agreeing to provide a safe financial future for her into old age, and getting old is EXPENSIVE), healthcare and dental care, a child and 25-40k college tuition for just an undergrad, not discount illnesses, vacations, childcare, clothing, makeup, hair cuts, braces, Internet, cell phone etc on 40k a year???? This has nothing to do with anything other than the cost of living that continues to increase and the cost of college/retirement that increases as well(and impending healthcare needs in old age for not just YOU but your WIFE- so maybe 1-2 mill if you both plan on living to 85...this isn't 1955. Have you done the actual math?