A very risky (reckless?) bet, especially with a second child on the way. Get the money while it's there and that it keeps coming. As a consultant, you have the added benefit of being the master of your schedule, which is crucially important when you're having a child, but suddenly saying "no" to all your customers for the next nine months because of some arbitrary decision? Terrible idea.

Use your status of consultant as an asset to set up your schedule so you have time for both your new child and your new work, but keep that money coming: you'll need it, especially with two children.