I'd put it this way, I'm kind of in a similar position.
You don't HAVE to fly, you really WANT to fly, and that's ok. What you HAVE to do, is put food in your kids mouths and a roof over their head, I'm glad that you seem to you have that covered. I'm 32, got my Commercial certificates 3 years ago, and only 2 years ago got a p/t flying job to build time (150 hrs a year). Would I love to be able to go fly survey for a year and hit 1500 / etc to apply to the regionals, you bet your ass (You can totally say ass here), but, I have a 2 and 6 year old and a stay at home wife...if I don't work people get hungry. It sounds like you have a plan, with your wife graduating next year / etc. That gives you time to work on your ratings and start networking. Unless you have cash saved up, paying as you go / can afford will slow down progress a bit, but do go into debt for flight training, it's not worth it. The airlines / charters / etc aren't going anywhere. Are we getting into it later in life and lowering our overall earning potential, but a metered approach is def. the way to go. Good luck!