I went to HAI when I was 40 (also with wife and 3 children). I did my PPL/CPL/CFI in 5 months and was one of the fastest ever. Most of my young classmates took 10-12 months. So there's shouldn't be a problem as learning ability is concerned. Most of the older guys at HAI where faster than the youngsters by the way.
Finding a job is the hard part. I was not willing to travel far, so I started my own flightschool in Florida. Quite easy by the way, I leased a helicopter and a hangar and of you go. Flight training, aerial photography and sightseeing tours. A good way to build hours and make good money. Now I have a job in England still making good money. It sounds easier than it is, I had some hard times but it's what I want to do.
You're never to old, and if you want it you can do it.