Gen X here. Married later in life - wife is a Millennial. Busted my ass for several years to provide for wife and family on one income and renting in expensive Southern California. She was a stay-at-home mother during the day, full-time nursing student at night. I would come home from my full-time job after regularly clocking 9 hours per day, then take care of the kids so she could attend classes into the night. There was no extra money.

Now we both works full time. Before-school care and after-school runs about $1,500 per month. Rent (not including utilities) is $2,000 per month. Health insurance premiums alone run over $500 per month.

And we're lucky because we're actually able to save a little for retirement. Not enough for a down payment for a house, though, when they run $500,000 just for a two-bedroom condo in a safe neighborhood with good schools. We have friends who make a third or half of what we do - and they have three or four kids. Food stamps and Medicaid and the child tax credit and money from their kids' grandparents are how they manage to survive.