Navigating a Job Offer: Excitement and Concerns About Salary Negotiation

I just received a job offer after a year of searching, and I'm feeling both excited and anxious. The role is with a great company, and the compensation package is set at $100k, which includes an annual bonus. However, this is a significant pay cut for me, and I'm worried it won't cover my family's expenses since my wife can't work right now due to our two kids and a baby at home. I initially agreed to the salary during the HR screening call, but now I'm contemplating whether I should negotiate for a higher amount. I believe that with my experience and the job requirements, asking for $110k would be reasonable. I'm stressed about this because I really don't want to lose the offer, especially in this tough job market. I'm wondering if I should suggest an increase and how best to approach it. Should I request a phone call to discuss this or handle it via email? Any advice would be greatly appreciated!

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