I started out teaching music. It was fun, paid for college and kept me on my toes skills wise. My current job also has a big music element.
If you go into the teaching, make sure you have a passion for that as well as the music. I currently take 3 music lessons ( singing, drums, DJ) and you can really tell the difference. The drum guy gets a kick out his students picking something up and finding stuff to challenge them. The DJ is a top DJ, but hasn't quite got into his teaching groove yet. And the singing guy sometimes feels he is just going through the motions and wishing he wasn't there!
So if you've got passion for music and passion for wanting to help students get that passion as well, then go for it!
PS NFX, what's your website? I'm a big fan of the todaysbeats.com site!