Late 30s? Let's assume you're 37.
1. You pay off your home in 10 years. You get a third job (if you still have the second job, if you don't then you get a second and a third job). All the money goes to the home and the children. Nothing to you or your wife.
2. You stop flying now. Right away. You need to free up your brain capacity for the following points.
3. You buy theory books
4. You see what theory exams you need to sit (obviously not the ones you've already passed). You book the next one, grab its corresponding theory book and study for it.
5. You contribute $50 per week to your ATO Income Tax Account. Each Australian has one, contact your Accountant and he'll give you your BPAY details. You contribute for 10 years.
6. You study and sit all your theory exams (RPL, PPL, CPL, IREX and Instructors - this is important, will explain why in points to follow).
7. After theory exams are passed you do a distance learning ATPL course (they require CPL exam passes prior to enrolling). You learn and sit these exams - and you pass.
8. If all goes as planned house is paid off by 47. You stop working at job number 1. You continue working job number 2 and number 3.
9. You enroll in an Aviation Course that is covered by a HELP Loan. You do the Certificate for Commercial Pilot, for Multi-Engine IR and for Instructors Rating. You continue working job number 2 and number 3.
10. The Certificates by this time would be about $160,000 (indexed) with roughly about $25,000 in loan fee (loan fee is covered with contributions from point 5).
11. You pass the course because you're just focusing on flying (freed up brain capacity) - you've taken care of the theory side of things.
12. You apply for a job as an instructor at the school or club that you did your Certificate at. YOU DO NOT GO JOB HUNTING. You stay because you have a family to look after so you pester and pester until they offer you a job. You continue working job number 2 and number 3.
13. If all goes as planned you'll have it all done by 49/50. Pay off your HELP loan with your wage as an instructor which is minor, so...(you know it) you continue working job number 2 and number 3
14. You work as an instructor and build you hours at your GA Airport until you reach the minimums for the Airlines and then you apply. Rejected? Apply again, and again, and network and network at the airport as much as you can.
The sooner you pay off your loans the sooner you can follow a plan.
Your life ends when you die, not in your late 30s...