Given the current climate I don't know how you could be overqualified. However, as someone else said maybe you should check your other options outside this screwed up industry.
Why not find a better job outside of aviation or retail (economy willing) and continue to fly on you own time? Don't think so narrowly of the choices. I have a wife and 2 kids and I wouldn't do this all over again and I wanted to fly more than anything since I was a child.
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