Balding was never going to be a fun experience but donning a wig is a slapstick comedy accident waiting to happen. Don't pull a Nic Cage! Also growing your hair even though you're balding (yes, you mid-80s Phil Collins) is even worse.
The best thing to do is just go short, working with what is there, as opposed to against it. Bruce Willis and Kevin Spacey will show you what to do - they've been picking the dead hairs off their shoulders for years. Plus in Bruce's case he knew when it was time to shave the lot.
If a younger look is more appealing take a look at Jude Law's faux hawk cut which works the hairline or Matthew McConaughey's textured crop which disguises the recline naturally.