Nick, I've never been in that situation, and can't imagine how hard it would be to make such a decision. Obviously, you have to way all the pros and cons and hope you and your wife make the right decision for everyone. I can't remember if your wife works or not? If so, that would be a consideration possibly.
Ive got a few friends at Principal that lost their jobs after 15-20 years with the company, they are taking what they can get until the economy turns around, sometimes that means taking a job other than the field your currently in, and looking to the future to get back into something. It will turn around.
Anyway, I know things will work out for you, you and your family are great people, good things happen to good people. Just try not to rush into a decision.
Good luck my friend..Randy
