I always have one out. It is always loaded. It is up pretty high in my closet. My kids could easily get to it if they wanted to. However, they don't go snooping around in my room when my I am around. If I am not around, the gun is with me. 
Now, with that said, the kids really have no interest. I took a different approach than Cat, though. My kids have always been able to check out my gun (and all my other equipment anytime that they want. They know what it all does and they know what is dangerous and what is not. They are well educated in all of it and their is no novelty in any of it. From the start (such as when the kids were in preschool) I tried to avoid using the term "gun". In stead, they were dad's work tools. Plumbers and mechanics have work tools, so does dad.
Now days, they know better and they know when it is and is not appropriate to talk about them.
I remember my grandma complaining when I came home from work with everything exposed, worrying about the kids seeing my guns. So I called my youngest over (who was about 5 at the time) and he rattled-off a nice description of everything on my belt. I then asked if he was allowed to touch anything and he said, "All of it." I asked if he wanted to see the gun and he said, "Sure." I unholstered it and asked if he wanted it, and he said that he did not until it was the "bullets were out." I dropped the mag and asked him if he was ready for it and he said that I had to "slide the top." I racked it and went to give it to him and he said only after we both looked at it to make sure it was empty. My grandma was dumbfounded and I was very proud.
We bring evil things to evil people, kicking in a door near you!
."In theory, there is no difference between theory and practice. But,
in practice, there is."
- Jan L.A. van de Snepscheut
"The difference between 'involvement' and 'commitment' is like
an eggs-and-ham breakfast: the chicken was 'involved' - the pig
was'committed'."
-unknown
Working on a PhD in CQB one doorway at a time.
When the wolf attacks, he will find not all who run with the flock are sheep!