Unfortunately, a lot of guys try to move home in their mid 40's because the Wife/Kids are sick of China or the Desert, but that's about the worst time to move.
Absolutely correct. At that stage you are unlikely to be financially secure, and still have high outgoings. The choice is often between a substantial pay increase as you upgrade to wide body Captain in your present job, or a substantial pay cut as you downgrade to narrow body first officer if you return. Add in moving and set up costs, together with possibly having to purchase property and the picture is quite bleak.
For mid to late 50s thing look much better. Someone of that age today, likely enjoyed the golden era of pay and conditions and spent enough time abroad to have accumulated substantial wealth. Children have probably left home and parents health issues are a draw factor. Driving down from the coast, doing a quick mine transfer or freight run and being home that night would appeal to many instead of ultra long haul, multiple time zone/minimum rest torture. As long as you’re not paying alimony to a first wife and trying to support a new family, the pay cut is quite manageable considering the lifestyle trade off.
Opportunities to do this occur when the top airlines recruit and suddenly operators such as Allance and Cobham find themselves short of Captains and senior F/Os.
Personally, I’ll retire in a low cost location such as Malaysia, Thailand or the Philippines for about 10 years and come back when I’m about 75.