401k's are usually available through employment opportunities but IRA's are available through banks and investment counselors for individuals. If I had it to do all over again, I'd open a Roth IRA at one of the larger banks that survived the banking fallout. As a note, I'd put that 10 years of Army to use by trying to get a GS position or even join the reserve units next year. Retire in 10 and wait until you're 62 for half pension and put the reserve money into the Roth - but that's how I would do it if the opportunity presented itself.

If your working , see if your emoloyer has a 401k , and especally if they will
match yor contributions , unfortunatley c/ds arent paying 1% ,
You might look into short term annuties , by bank offered 5% per year
compounded , it was bbt , you can close it after a year or continue at the them
current rate.
As always read the documents.

If your last question that you recently asked on this same topic is any indication, then congrats on the pregnancy test! I'm sure that you care very much about your children (future as well as present) and would want the best for them as well as for yourself, given how you are attempting to learn more about business subjects these days. While you didn't state whether or not you are working outside of the home, in addition to taking care of your kids, nor whether or not you have a marriage partner who is bringing home a portion of the fish oil, (which can make a big difference in terms of what kinds of things might or might not work for your specific situation), it is easy to see that you'd eventually do well in some sort of business situation. Therefore, I'd recommend that you consider immediately setting up a Roth IRA for yourself, and each of your kids ($500 each), and then afterwards, opening educational Coverdell ESA (Educational Savings Accounts) for your kids might be warranted as well, though I doubt that they are as flexible as my favorite, the Roth IRA. If you have a steady partner, then they should definitely be involved in all aspects of these discussed subjects. You'd have to find a "way" for the kids to earn some taxable income in order for them to be allowed to make a contribution to a Roth IRA (100% of their annual "earnings" or $5,000.00, whichever is higher), but I'll bet that the Gerber baby makes FAR more than either of these amounts for simply "looking cute", and I'm sure that someone with a screen name such as yours will quickly, (within a few months), think of other suitable, legal, ethical and moral means to accomplish these ends, heheheh! As soon as possible, engage your kids in helping decide how to "grow their accounts" in the same way that you discover how to grow your own. They will never wind up destitute or needy if you do. Roth IRA can also get money out for certain educational and "other" expenses, so look into this option and make it a part of any college educational plans for all of you.

Given your accounting knowledge, you will almost certainly do better by eventually, (after suitable rumination and educational efforts), running some sort of a small, or even micro-business sized operation, which would then allow you to put a sizeable chunk every year into your own SEP IRA, (works exactly like a standard IRA, but much higher contribution limits), and finally, if you are working for an employer who offers them, get your 401(k) opened, as they usually match some percentage of funds that you contribute. This is "free" money and there are precious few opportunities to get such stuff normally in our society. When you leave your employer, the money that is in there becomes eligible to be "rolled over" (term meaning that you never touched the money, as it went directly from one trustee to another), to either a standard IRA or a Roth IRA, at your option. You will then have greater control over how the money gets invested. If you have a choice, request that your 401(k) be invested in Treasury Bonds or the like. Even ZERO% interest is okay, as it isn't ever going to make you rich, after all, given the current financial climate. I personally avoid paying or collecting interest, it is just a trap for everybody involved.

As far as "investing" in the stock market, timing can be painful. My sister worked for Costco, and when she needed to buy a house and used her 401(k) money, Costco stock "happened" to be at a 50% "dip" in its usual price. My sister got HALF as big a down payment as she would otherwise have had if she had followed this "contrarian" advice. Taxes will possibly have to be paid, but the Roth IRA is such a bargain that depending on your tax circumstances, it can often be the best choice anyway.

If you plan on becoming pregnant again in the future, or suspect that your screen name indicates any actual tendency or inclination to certain proclivities, then you will definitely be strapped for time, and might as well figure on business ventures that you can operate out of the nooks and crannies that will be left of your life after meeting the needs and demands of your family. This isn't necessarily a hard or difficult thing, or even any less satisfying, for that matter, but it will require a bit more organization on your part than you appear to be willing to put into it at the present time. The good news is, you are already well on your way to eventual success! Just keep moving in that direction and don't quit or give up until you have arrived.

Check out my other answers located in the section on financial questions to get the general idea of what to look for in an initial Roth IRA trustee and where you should open one up. The initial account is only a parking place for your money. It is "out of sight and out of mind" as far as your everyday spending patterns are concerned. Once you have advanced to the point where you have made regular, (even if only tiny), monthly deposits to your account for a year, then you are probably ready to start spending the money in the account in a skillful manner. You will need a different trustee for the same type of account, but one that allows you to call the shots. It would be inadvisable to "invest" the money until then in even "safe" or "traditional" investments, as any lack of experience on your part is likely to do more damage to your account balance than any luck that you might encounter along the way. I ran my "educational fund" specifically for playing in the stock market up to double what I started with, and because I had no clue what I was doing at the time, (nor did anybody else in the market), I subsequently lost 90% of my peak portfolio value. Unless you like gambling, and have a strict budget for your addiction, don't put a penny of it into anything that you don't totally understand or that you don't totally control. I am now looking for and investing only in opportunities that offer 20% ROI or better. I suggest that you do the same. Don't accept any risk that you perceive to be greater than 1% or 2% or so. If you don't know how to measure risk, then get some additional education on the subject and DON'T INVEST IN ANYTHING until you do. It is better to "lose out" on the next "deal of a lifetime" than it is to lose momentum for your cash balance growth when those supposedly "can't lose opportunities" tank like a lead balloon. Managing your investments is a perfectly reasonable "business occupation" and I suggest that you seriously consider it when looking for suitable job opportunities. LLCs can be set up where the participants are nothing other than IRA accounts, as this is one of the specific, allowable uses for the funds in an IRA account.

The final point I'd like to make, is don't think of your IRA or other retirement account as "money to be used to take care of me during my retirement". This might very well be what congress intended it to be used for, but there is no such rule anywhere. The money can come out at any time, provided that you are willing to pay the price. Given the price of making a profit on an investment OUTSIDE of an IRA account, ($60,000/year = >50% taxes), it is far more skillful to think of any tax advantaged account as a being a "tax free investing account" in disguise! I am confident that congress would rather you learn to become wealthy, so you don't depend on Social Security for anything, and that is the main reason why they are willing to let you keep all of your money if it is in a Roth IRA. Naturally, if you are wealthy, you will be able to take care of not only your own needs and those of your family, but you will be in the enviable position of being able to help any cause or other person who is in need of a little encouragement, especially if this helps make the world a better place to live for everyone!

Ask further questions as you need more information and get stuck! Squiggle first, ask questions later...