I too am 34 and a mother of two girls...I started riding in November and haven't looked back. I had to give up the soccer/running and other high impact pursuits because of injury. The bike has taken its place plus some.

I think the main thing was getting "myself" back after two pregnacies in such a short time. I had to find something that was mine!!! Cycling does that. It gives you the solitude you crave and some of the social aspects that I loved with team sports.

I can't tell you how cool it is to have my 20 month old look at me and say "bike ride day Mom?" or "Mom, Bike fast!" Priceless!!! I hope to pass along the need for athletic and physical pursuits not only for the fitness aspect but for the mental attributes as well.

I do suggest trying to find a clinic or something in your area to get your confidence up. I did one through REI and it made me make the leap into purchasing a bike. (had to make sure my injuries weren't aggrivated by riding) The clinic was pretty basic but it made my riding foundation more solid.
Keep pedaling and just remeber every ride gets easier!!! In a month or two you will be just like the rest of us...buying shorts, gloves, jerseys and sigining up for your first metric century!!!! - Nic