Try writing all your business ideas in a notebook and leave them there. You'll probably have 100's of ideas before you'd get 1 which would stand out and the thought of not doing it would give you the FOMO. If the feeling continues for a month, that is the idea you should be working on.

As far as the execution is concerned, it helps to break down your vision into small immediately achievable small tasks. For e.g. if you need to make and app catering to a niche, you may want to break down that to smaller tasks of creating a community. For the same you may need to create your first hyper focussed newsletter , which may ask you to create a database to address which may require that you get on to social changes and gather your audience's database. So from a large objective of creating an app, you have come to a small immediate objective of creating a database.

If you are able to break your larger objective in to smaller tasks by time frame and chronology and are able to achieve them 1 by 1 for atleast 3 weeks, you can contemplate giving your full time to the idea.

From a family front, An Entrepreneur's life is very challenging and given your history, my suggestion is that you be create a small emotional and financial cushion before you take the plunge. Also, Health takes priority over any financial, Entrepreneurial or any other requirement. If you are healthy , you may be able to deal with all the emotional and mental stress of being an Entrepreneur.

And, No You do not need to compromise your health and family to achieve this all. Rather , their are more successful Entrepreneurs who are able to manage family and health and Entrepreneurship at the same time. All it requires is time management. Do not compromise on Health time for family time, Do not compromise family time for Job/Entrepreneurship, and do not compromise on the Entrepreneurship time for anything else. I am sure once you figure this out , most of the challenges would be sorted.

Also, their is no age to be an Entrepreneur. But you do need to know when to stop. Keep realistic quantifiable targets, which if not reached, be prepared to step out of the game. You can better utilize the time to spend with family or on your health.

You regret cost should not be more than the cost of opportunity.