What do you want out of life?
Do you want a steady income and perceived job security (any company can fold or be bought/sold..) plus time for family and lower stakes.
Maybe you want to take an educated gamble, make the jump and do something that could prove benefits for you and your kids for years to come OR could turn out to be a nightmare and leave you financially short until you get back into a stable salaried job again
I’ve just experienced first hand how being in a company from the start then being snapped up by a bigger fish can be a real life changer. Some people lose their jobs and start over again. Some who got in early, got $$$ as share equity was released and are well set up for many years to come.
Do due diligence and look at the business model.
Check your current employment contract for competition clauses.
Try and find a balance in his offer between salary and equity provision in the new business – you might be able to get a similar salary but have an ace in the hole with some equity that could be worth a lot in years to come
If he offers a better salary and equity it would be a no brainer for me.
Whatever you go for – I wish you good luck