A family of four now needs roughly $118,000 a year just to cover basics, well above what the typical American household actually earns — bad news for young families and anyone thinking about having kids.

• Basic costs for a family of four add up to about $118,000 a year, while the typical US household brings in around $80,000 — and that $80,000 usually takes two earners.
• Child care is the breaking point: once both parents work, they owe roughly $32,000 a year to someone watching the kids.
• That means the second paycheck often just pays the babysitter, not getting the family ahead.
• Unlike the 1960s, families now cover child care, transportation, food, and health insurance themselves — employers used to carry much of that.

Outlook: As long as child care eats a full second income, expect more young Americans to delay or skip having children entirely.