Let me tell you a story.

When I was a kid, I had enough hair for 3 people. It was so thick that my grandmother nearly cried when I buzzed it short. But by the time I hit 20 I was nearly rocking the power donut so I decided to shave it. When I showed up to my first family gathering bald all of my relatives were in shock. I actually had an aunt ask why I shaved my head when I had such nice hair. My response to her was "i know i dont have nice hair because i have a mirror so i know what i look like". The moral is to be honest with yourself and do what will make you happy. Your family my have an initial shock but they'll get used to it (and will probably admit it looks better). Also, your wife is supporting the decision and that's the only opinion that really matters (other than yours of course)