ask: Do any of you at-home parents have your own Retirement Accounts?

A feeling of financial security can certainly contribute to good mental and physical health for lack of worry about the future. Although I spent much of my former career in investment banking dealing on the scale of billions of dollars, as an ordinary investor dealing on the scale of thousands, or hundreds, of dollars is really more daunting because people are so emotional about money.

IRAs are typically for those who do not have or are not covered by a company retirement plan (like the non-working spouse). There are income limitations and qualifying factors for every type of IRA. You need to seek the advice of a qualified financial advisor, or even your CPA, to determine what route will work best for you.

There is the fully deductible IRA.

There is a non-deductible IRA.

There is a type of IRA for a small business owner.

There is a Roth IRA.

Self-directed means you decide how your monies are invested in whatever mutual funds or other instruments (stocks, bonds, etc.). Depending upon your Trustee's offerings, you might simply be determining what percentage of the monies go into what mutual fund.

The Roth IRA is particularly interesting to those who qualify. Using after tax dollars, you can even invest in real estate - not your own residence.

Again, check with a qualified financial advisor. Everyone should have a team of advisors that includes your financial advisor/planner, CPA and attorney. Teach your children how to save. :)