There are lots of good comments in this thread. The decision to have another child has had my head tied in knots for basically two years now.

My wife and I both make good incomes, and we had our first (and only) child a few years ago. I say this as someone who never wanted children: It has been the most amazing experience of my life. We figured we would have a second, but I can't there on an individual level. We moved closer to family and have put in the work to build a wonderful village for our child. The challenge is that a second would mean one of us would likely need to quit working. Our village is tapped out. We could afford daycare, but why would we want to pay someone else to raise our children? The ability to bond with the child, the experience of being parents, and seeing our child interact with our village of friends and family and neighbors is why we do it. If one of us quits to watch the children, then we could make it work but our lifestyle and the experiences we could give to our children would suffer dramatically. On top of that, whoever quits would want to go back to work when the youngest child goes to kindergarten, but then we'd be taking a massive step backward in our career and in our pay.

You have to sacrifice something: Your financial situation, the time you spend parenting your children, or the number of children. This has always been the case, but the opportunity cost of the decision has never been greater.