Ah, parenthood -- that HUGE change in lifestyle.

I can relate!
My gear is pretty inexpensive -- running shoes and shorts. I jog 3x per week with some stretching before/after (old-age required), and do a moderate weight workout followed by a jog once a week.
Then before a big hike, I'll add in some bike riding.
Hiking should be fun and relaxed, not a grueling endurance test. Slow and steady will take you far.