There’s also the argument that you could live off of one salary and downsize / live frugally (two-income trap), but things are more expensive (e.g. the world is more safe now, but that also makes it more expensive).
We have sort-of done this (salary disparity means that we are on more than half what we originally were). I do find it hard though in many ways. I've done intellectual things all my life, got a PhD in maths etc. and now I'm basically a housewife. I do get some time to myself, but I miss the connection to other people that you get with work. Ideally I think I'd like to work perhaps 5-10 hours a week but there aren't really jobs around that are interesting doing those sorts of hours. I tried a couple of things (consultancy, university teaching) but they didn't really work for various reasons.
With one person working, you're also increasing risk. If that person loses their job and can't easily find another one, you're more likely to be stuck. We think that's pretty unlikely and we've made sure we have a safety net, but it's definitely something to consider if you go down this route. Once you have children in school who are settled and happy, then moving for a new job becomes a much bigger deal. I'm very conscious that the longer I don't work, the harder it will probably be for me to find work again.
