I believe a Th.M. is pursued over a M.Div. because one wants to teach rather than be a pastor. However, I know that at some Southern Baptist seminaries that a M.Div. is required before one can go into the Th.M. program. That may have changed.

I know of a number of men who taught while working on a Ph.D., although most probably do not, due to the number of teaching positions available. It would be the perfect gig though...income and experience.

I would avoid a degree from Fuller, Wheaton and Trinity, especially Fuller. I suppose it depends on what you want to teach, where you want to teach, and if you want to do more than teach as to where you get the degree. If you want to teach at a small Baptist or evangelical college I'd stay right where you are and go to Southern.

Pursuing a degree with a family is difficult. Is your wife willing to commit to the time it will take to get the Ph.D.? What is your plan for providing for your family while working on the degree.

__________________
Ivan Schoen, Pastor
Maranatha Baptist Church
Poplar Grove, Illinois USA
http://maranatha-sbc.org/
"When a denomination begins to consider doctrine divisive, theology troublesome, and convictions inconvenient, consider that denomination on its way to a well-deserved death." Dr. Albert Mohler, President of The Southern Baptist Theological Seminary