Yes you are mad. Seriously forget it. You have a family and responsibilities and frankly it sounds like you are not in a position to take a gamble like this with very long odds. It would be a very selfish thing to do to risk you family's financial well being. You are too old, get over you middle age crisis and focus on what is best for your family rather than some pipe dream you are 10-15 years too late pursuing. Fine get a PPL and see how much cash just that can suck out of your family's savings (you will be amazed at how GBP 150 an hour in a crappy cessna eats cash that could be put towards yours kids futures).
Frankly it is unlikely you will ever make a "living wage" even if you land a job as a TP First officer. Wake up and smell the coffee, thats the reality.
