Skip to content

Why It’s Okay to Have an Expensive Hobby

three men on road bikes enjoying their expensive hobby

Having an expensive hobby that brings you joy can be well worth it.

Author: Martin Lundgren

If you’re a tech executive, you likely work very hard. Today, we’re encouraging you to ‘play hard’ as well. As many of us reach mid-life, we tend to put our wants aside to prioritize the needs of our family, the demands of work, and other items. However, having a hobby you truly love can bring a much-needed dose of joy to your life.

Below, we offer some justifications for your expensive hobbies and explore considerations to help fold them into your financial planning — and your available time.

6 Reasons Why Having a Hobby is Worth It

Chances are, you are drawn to activities that take you away from the screens and into the great outdoors. We’re in the beautiful Pacific Northwest, after all! Today, we’re here to tell you it’s ok to indulge in your passion — as long as you practice a little practicality, of course. 

Here are a few more reasons why a hobby is a good thing:

1. You’ll Find a Community of Like-Minded Individuals

One of the biggest perks of a hobby — whether it’s cycling, boating, go-kart racing, or personal fitness — is the sense of belonging. When you join a cycling club or spend time at a local marina with fellow boaters, you’re building connections that can last a lifetime. (And who knows how those connections might be able to help you in your professional life!). 

2. Hobbies Bring Joy into Your Life

Let’s face it: if you’ve worked hard to build a successful career, you deserve to enjoy the fruits of your labor. Hobbies — particularly ones that involve the rush of physical activity or the thrill of collecting — can dramatically improve your quality of life. A high-end bicycle or a well-maintained boat isn’t just an expense; it’s an investment in your happiness. 

Bottom line: Life’s too short not to do what brings you genuine joy.

3. Hobbies Give You Something to Look Forward To

A big part of a healthy mindset is anticipation, and having something to look forward to is a good thing. As humans, we thrive when we have an exciting event on our horizon — a weekend ride with friends, a session with your personal trainer, or a sail around the Puget Sound. Splurging on that perfect piece of gear can add a spark to your week and keep you motivated in other areas of your life, including work and family.

4. You Gotta Live While You’re Young!

Especially if you’re still relatively young (or young at heart) and in good financial health, the time is ripe to indulge in activities that bring you pleasure. Whether you want to tackle the region’s best mountain biking trails or learn to pilot your own boat on Puget Sound, now may be the perfect moment. 

Some of our favorite ways to get outside:

Seattle is blessed with natural beauty that begs you to get outdoors — lakes to kayak in, mountain passes to ski, and hiking trails galore. 

5. Healthy = Good for the Long Term

Biking, skiing, and personal training sessions are hobbies that can boost your physical fitness. That means fewer medical bills down the line, improved mental clarity, and a healthier lifestyle overall. Basically, you’re investing in your future well-being. The endorphins you get from a tough ride or a session at the gym can help stave off stress and keep you mentally resilient. (And if you get creative, you can keep summer momentum going all year round).

6. Endorphins and Nature Pay Their Own Dividends

It’s hard to put a price on how good you feel after a long ride, or how serene you feel when paddling a kayak on a calm lake. Those intangible benefits — stress relief, mental clarity, an excuse to enjoy the outdoors — can be worth every penny. It’s no wonder endorphins are considered the brain’s natural pain reliever. They might not appear on a balance sheet, but they’re real and lasting.

Example Time: Biking, a Luxury Sport that You Deserve to Enjoy!

When people talk about big-ticket hobbies, most minds jump to luxury cars or boating. But in many circles — especially among tech employees with a taste for the finer things — bicycles can overshadow them all. 

If you’re a serious cyclist, you know how quickly costs can balloon: top-tier carbon-fiber frames, high-end components, custom fitting, frequent upgrades, and even an entire “quiver” of bikes for different terrains (road, gravel, cyclocross, mountain, you name it). Then there’s the gear: specialized shoes, helmets, cycling computers, and more. 

Yes, biking can get downright expensive — even more so if you start to collect multiple rides. The good news? Your financial advisor can help you walk through all the considerations and make sure it fits into your greater overall plan. 

Why Paying in Cash Can Be a Smart Move

When it comes to funding your passion, it may be tempting to finance that custom carbon bike or your brand-new ski gear. But just like buying a new car, there are differences between leasing and purchasing outright. If you have the liquidity — and you’ve already maxed out retirement contributions, stocked your emergency fund, and maintained a solid investment strategy — then paying in cash can offer perks:

  • Discounts for Paying in Full: Many specialty shops and service providers (like personal trainers or prepared food delivery services) provide discounts for up-front payments or longer-term commitments.
  • Peace of Mind: Not having a monthly payment hanging over your head can free up mental space to focus on enjoying the hobby itself.

If your financial foundation is truly stable, and you’ve assessed that your hobby won’t derail important goals like retirement or a future home purchase, paying in cash can be both practical and rewarding.

(Remember our earlier point on buying vs. leasing a car? The same principles apply: run the numbers, check your goals, and make an informed decision.)

How to Find the Time for Your Hobbies

For many of our clients, money to enjoy hobbies isn’t the issue — it’s finding the time. 

This is where you can get creative. For example, you might be able to fold your passion into your daily life. How do you get to work (and how long does it take)? A bicycle commute might be the best of many worlds. Many tech employers have secure indoor bicycle storage and nice locker rooms so you can easily transition into your workday! Not only will you get to do something you love, you’ll be able to get to work quicker and squeeze in an endorphin-boosting workout. 

Another tip is to find a gym that’s close to work and utilize your lunch break or other openings to do fitness. If you work from home (or prefer to get exercise there), home exercise equipment can be a great investment that you can use when it best suits your availability. If your kids’ schedules dictate your fitness, try walking to school drop off or working out while your little ones do their activity — instead of waiting in the car. 

Also, you can outsource stuff that is time-consuming. For example, enlist a financial advisor for the peace of mind that someone knowledgeable is taking care of your wealth management activities. And since your income provides the means, hire someone else to take care of your most time-consuming tasks (like housekeeping, landscaping, property management, etc.) to free up even more time and reduce your non-work workload

Considerations Before You Splurge on Your Hobby

Even though a fancy new bike or boat might feel like an instant ticket to bliss, there are a few practical details to weigh first. 

  • Time Commitment. We’ll say it twice because this is an important consideration: you need to have time to actually enjoy your hobby. You may have the money to buy a boat or a collection of bikes, but will you use them? If you’re working 60-hour weeks and traveling frequently, that boat may end up sitting in the marina unused. Or those five high-end bicycles could remain untouched in your garage. Make sure you have a realistic — or creative — plan for carving out time. (And don’t be shy about outsourcing time-consuming tasks like wealth management or housekeeping, gardening, and more).
  • Storage and Maintenance. Boats, bikes, skis — these all take up space. Rental storage, marina fees, or the cost of building a bigger garage add up. Plus, specialized gear usually requires specialized upkeep. Road bikes need tune-ups; boats need winterization; ski gear needs waxing and storage. Don’t forget to factor in these ongoing expenses.

  • Licenses, Permits, and Permissions. Depending on the hobby, you may need to apply for fishing licenses, boating permits, or even city permits to store certain items. If you’re a cyclist, consider the cost of gear replacement (those carbon wheels are not cheap to replace if you hit a pothole at 25 mph). Keeping everything legal and in good condition takes both time and money.

     

  • Location, Location, Location. Here in the Seattle area, we’re spoiled with options. Puget Sound for open-water adventures, nearby lakes for kayaking or paddleboarding, and mountains for skiing are all within reach. On top of that, there are countless hiking trails to explore. This proximity to adventure can mean you get more bang for your buck if you invest in the right equipment or experiences. And if you prefer group outings, there are many clubs and meetups where you can network and make new friends.

How a Financial Advisor Can Help

Balancing your passion for travel, sports, or art with long-term financial stability can be tricky, but it’s far from impossible. A financial advisor can help keep you on track for retirement while still enabling the indulgence of your favorite pursuits. They can help you create a realistic budget that factors in the cost of equipment, lessons, ongoing maintenance, and even personal training or prepared meal subscriptions. Plus, working with an advisor can free up time to enjoy your hobbies.

With a little planning, a clear understanding of your financial picture, and expert advice along the way, you can sail into that next adventure or pedal your way up mountain passes — guilt-free and with gusto. After all, you’ve worked hard for your success; it’s time to enjoy it. Live while you’re young, stay healthy, and embrace your expensive hobby. It might just be the best decision you make this year.

At Northern Lights Advisors, We love our outdoor hobbies, and we’d love to help you fit yours into your larger plans. Schedule a meeting with us today.

Northern Lights Advisors is a fiduciary, fee-only Registered Investment Advisor (RIA) firm based in Seattle, Washington. The information in this article is not intended as tax, accounting, or legal advice. Read the full disclosure here.

RECOMMENDED POSTS