I completely understand it. Biking is a lot of fun. Younger people seem to prefer the crotch rocket bikes with the color-matched suits, while the older guys prefer the casual, jean-jacket look. I don't think its anything to do with a mid-life crisis. It costs more money and time and may be seen as a relaxing thing to do, all of which are ideal for the 40,50,60 year old set.
Personally I never used to be interested in Bikes, but they are looking better and better to me as time goes on, especially since Harley Davidson announced an Electric Bike.
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