For many years I believed it was impossible for our family to live off one income. Or at least impossible to do well. I have grappled a lot with what "doing it well" means for our family, especially now that we have a little one on the way. If this is something you have been considering, but have held back, you might want to check out the rest of Becker's work too. While he can't take into consideration your specific numbers, needs, and values, he does lay out some excellent principles and steps they took to plan to become a one income family. I have found the principles realistic and challenging in a good way.
Here it is! Enjoy.