Hobbies of the Rich and Famous: Is It Worth It?

Whether you hit it big in the lottery or retired after years of work, it is time to enjoy the fruits of your labors. If you’re going to have fun, then you have to put all of that money to good use. Several hobbies can be expensive but are well worth the price.

Yachting

If there is any hobby that people often associate with wealth, it owns a yacht. It may sound simple enough to buy a boat for yourself, but to be a competent yacht owner needs something more. This mainly comes in the form of training. Handling a boat takes special skills, and you need to dedicate yourself to it. Look for a local sailing club so that you can start learning how to do the important things. Besides the training, you still need to buy yourself a yacht. This is where the bulk of your money is going to go. Depending on how large a vessel you want and what features you want to have, the price tag is going to go only higher. Note that the bigger the yacht, the more people you need for your crew.

Flying

Besides sailing the seas, another expensive hobby to have is to fly. Similar to yachting, you will need to take lessons first. A local flying school should be able to give you lessons. While it may seem like a more elaborate driving lesson, learning how to fly properly is even more important. There is an even higher chance of something going wrong. The real status symbol will be your purchase of a private plane. If you want a reasonable single-engine plane, you can get one for a minimum of $15,000. That doesn’t sound much, but that is a budget model. The upper limit is $100,000 and will have all the bells and whistles that you want. This amount also doesn’t consider the storage and fuel costs you will need to pay.

Horse Racing

The original rich man’s hobby, horse racing can take up a lot of your time. Besides taking care of the horses, you will also need to train on the track if you plan to be the one riding. You can choose to focus on the raising and horse training part, but it is still expensive. Besides that, there are several racing types you might want to participate in like harness racing and the steeplechase. Knowing what to look for when you buy a harness for race horses or other types is an essential skill if you enter the horse racing world. The horses will be expensive enough to purchase, but their maintenance and care will be the big money eaters. Fortunately, you can win big at the races.

World Travel

The simple act of traveling the world can be a hobby for the rich. This is not the basic summer vacation that you people sometimes take. If you are going to experience a new country, you’ll want the best accommodations and comfortable surroundings. You might even consider a nomadic lifestyle of moving from country to country in your retirement.

Collecting

For those who want a more relaxed hobby compared to the others listed, you can try taking up collecting. If you have a favorite interest like baseball, you can collect memorabilia from it. The more traditional items to collect are works of art and even cars. But modern times now allow for comic book and trading card collecting. These can still get pretty expensive.

While you might be spending a ton of money on funding these hobbies, they can provide you with unmatched experiences. Additionally, they can be profitable in their way, if you play your cards right. Combine enjoyment and profit so that you can have even more money to play with.

Meta Title: Hobbies for the Rich and Famous You Could Try

Meta Description: Now that you’ve got the money and time to enjoy it, it’s time to put it to good use. If you’re looking for a fun hobby that can be worth the expense, here are a few good ideas.

Tags: