Llen,
buzzc152's advice seems reckless with its lack of detail. I don't think quick yes/no answers are going to be a big help to you here. In fact, they might misslead you.
Danny C's logic is why you need to be prepared to walk away from a life changing sum of money.
Not so long ago I was in a vaguely similar situation as yourself with regard to age and having to make a commitment to training to be a pilot or to stay in my existing business.
I chose to train as back in 2004 it was a far brighter outlook, and I was prepared to walk away from £60k+ of investment as even then it was a risk. Don't forget that you have to invest time to train as well during which you will not be earning a penny.
If I had to make the same descission now, I would not be training, as the chances of getting a job at the end of it are getting increasingly slimmer, and the chances of having to walk away from your investment are getting increasingly larger.
I now fly a turbo-prop in the right hand seat on a poor salary only just struggling by financially, and I am the lucky one. Some of my peers never got flying jobs, some are instructors earning a lot less than myself. Career progression is non existant at the moment as no one is moving on up the ladder so as a result what I will earn throughout my aviation career has now reduced.
Financially it has not been a clever move but I do enjoy my job.
You're doing the right thing asking advice before you commit, but watch who you listen to. Don't let self belief and confidence stop you from being financially prudent. You still need to be prepared to walk away from a big sum of money.
Go into it with your eyes fully open, and with a back up plan for if it all goes wrong.
StraightLevel.