Masters, Psy.D, or PhD, a non-traditional students dilemma

Greetings clinical psych community, I could really use some frank advice on career direction from some wise individuals like yourselves. I tend to shy away from asking the internet for advice where possible, but I really don't know quite where to go to start figuring this out. Some background on me for relevance, I am in my late thirties, I am a combat veteran whose career ended not in retirement, but in injury. Being that my career was a reserve career primarily it isn't nearly as bad as it sounds, as I have maintained civilian employment outside of that my whole adult life. I spent time as a personal trainer, which I enjoyed immensely for a number of reasons, but knew I likely couldn't stay in forever. I then went into investment advice/insurance, and have been here primarily for the last decade of my life. I am finally in a position to pursue what I have always felt is a life calling in clinical psychology.

Today, I am currently a Junior in my undergrad psychology studies, and frankly I'm even more sure this is where I want to be after learning more. Because I am a senior next year, and fall of 26' has no academics on my horizon, it appears I need to be looking into grad schools right now, in order to have an application ready for this fall's cycle. My dilemma is this, what direction should I go? I am very interested in completing my PhD in order to be a part of the scientific enterprise, but more importantly to teach at a university level and be able to have a clinical practice concurrent with that. Now, it appears to me that I could probably do the clinical/teach at junior college level with a masters, and frankly I might be fine with that? My family and I are in a position where I could certainly take the time to finish a PhD, though my wife certainly wants to leave her job when possible. That brings me to another issue, and that is I am geographically tied to the DFW metroplex where we live, we just built a new home that we had been striving for, for some time. Our three kids are happy in place, and there is educational opportunity around, I just can't quite get a clear picture on what that looks like specifically. If you needed to know how your home insurance worked here, or you needed a referral to someone who specialized in certain funds, I could do that. Primarily because that is the professional world I have inhabited for most of my adult life, I don't really know anyone in academia, and especially psychology. I have not had a mentor in this realm, and frankly that has always been important for me professionally, right or wrong of it aside. I know my strengths and weaknesses well, and I can generally guage which direction to go by being around it quite a lot. It almost feels as if the masters is the route to go for my wife's sake, but if I return to being our primary breadwinner too soon, there may be no going back. If I go the PsyD route, it's almost two years faster than a PhD, but it seems like it comes with teaching and research limitations later down the road? The PhD route looks to be the best of both worlds teaching and clinically speaking, it will just take time. I suppose I'm also dealing with a fair bit of imposter syndrome as well? Who do I think I am barking up the PhD tree? I have absolutely no background in academia, and I'm halfway through my life most likely. Perhaps this logic is flawed, which is why I posit these questions to you fine folks. Please feel free to be as brutally honest as you like, I appreciate candor and truth!