I've taught myself Swift and Cocoa:
https://github.com/johnwheeler/CocoaProgramming
released open source frameworks:
https://github.com/johnwheeler/flask-ask
https://github.com/johnwheeler/flask-live-starter
and have had plenty of time to pursue interesting side projects:
I also spend plenty of meaningful time with my kids reading them books, going to the park, playing with toys, and day dreaming. Stop watching T.V., playing video games, and making BS excuses for being distracted from life.
It's not a tradeoff--you don't have to choose one over the other. _No one_ is so busy they don't have a few hours of down time a week. It's how you choose to spend it.
Incidentally for myself, with kids, a full workload, and pursuit of projects that interest me, I still find myself with too much time to know what to do with and squander a good portion of it.
The best thing you can do for your kids is teach by example. If you spend all your free time with them and grow up bitter that you didn't accomplish what you wish you would have, you're creating a shitty template for them mold themselves against. Let them watch you reading books, building things, crashing and burning, and chasing your dreams instead.