"Peter Millard" wrote in message
.. .
Is is possible to make a living instructing without taking an oath of
poverty?

Not so far, I work in IT also and qualify for a pension, and I can't quit to
go flying yet. I would make sure you are qualified to teach in the new Sport
Pilot category. If it takes off (no pun intended) it looks like that sector
will be attracting the most students.