Not exactly what you are looking for, I know, but I hope I hope it gives you some encouragement.
That said, I think you can still make a startup work if you want it bad enough, and depending on your (and your family's) appetite for risk. But if your SO isn't on-board with the required sacrifice and with the risk, it might not be such a great idea. Tough call, best of luck to ya!
Along the way, you are going to have to work your butt off to ensure the success of the business (no one else will care more about it than you), but its important to remember that starting your own business also creates some amount of freedom. No boss to ask for an hour or two off here and there. Pick your kids up from school, have a random lunch with your wife, work remotely while taking the family on vacation. If family is important, than a startup is actually a means to create more freedom in your life and spend quality time with them.
YMWV, but you need to find a way to make it work to pursue your passion. If you don't, you nor your family will end up happy :)
Good luck!
The reality is that starting a company in your 30's is probably the most common first-time startup founder age-range. It partly depends on market and business idea though. I wouldn't want to be a 38 year old guy pitching an idea for a social viral bar-games scoring app. But, for the sorts of ideas that tend to require bigger money and a more refined approach, I think I'd rather pitch that at 35 vs. 25 in today's market space.
Also think about hiring good talent in general (assuming you want to build a "business" and not an "app"), many people would rather work for an experienced CEO in their 30's, but the mid/early 20's set seems to have an edge on very refined "apps" (be it Android/iOS or small webapp) type of businesses, where 4 or 6 people may be able to makeup the core of the company for a significant amount of time.
Just my opinion, as a late-30's guy who has been rolling through various startups (my own and working for others) for about 18 years. YMMV.
I'm 33, wife, son, well paying job. I'm also passionate about food and have 'just' launched a recipe scrapbook web application. It's been tough. Last night at 2am I was writing e-mails, and coding, while trying to rock our newborn son to sleep.
You mentioned risk. That's interesting. I'm by no means successful in my venture (yet!), but I've been able to get this far on about $100 and amazing support from my wife. So my risk has been on the extreme low side. Now I'm trying to drum up some interest, and marketing is new for me. So where do I go from here? Find a foodie co-founder who is awesome at hustling? Stay the course, try my best, and see where this goes? Quit my job and just go for it?! Not sure yet.
So I guess I'm just saying, go for it! Don't quite your job yet, get your wife on board, give yourself 6 months, and see what you can do! It's going to be TOUGH! But your passion should carry you through.
I didn't want to give a link to the site in my first comment, as it didn't seem appropriate. But if you're a fellow foodie, I'd love it if you could have a look and give me your thoughts.
mylifethroughfood.com
I code in the nighttime when the kids (and wife) are asleep. For some reason, the progress I see actually gives me energy, it's the drag of going to work everyday that saps it. I'm lucky to have a wife that supports me in my ideas, I think it's paramount to discuss everything you do to her.
As of October 1, I lost my job due to the economy. This creates a lot of stress, but fortunately I get a reasonable severance pay from the government (I'm dutch). Although money is goint to be a bit tighter than we're used to, it could actually prove to be a blessing since I'll have a lot more time on my hands.
One thing I will say... do it, work your butt off and it will pay off in the end!