The answer is simply yes. You do want to do this. I could give a number of reasons why, but I don't have enough time or space. It's all good. It makes you feel good. It's a great community of friends. We'd love to have you.
I started riding about 2 years ago and i'm 55years old,so my answer is yes to riding. I just came off a 60 mile ride this past saturday, my longest to date, and i'm ready to do it again.
When you do buy a bike go ahead and get a "good" one and not a department store bike. The workmanship alone will make the difference in price.
Equipment doesn't have to be new, it just has to fit your body and your purpose.
You might even find a temporary loaner bike to get started. Post up!
I'm 42 and although I've dabbled in cycling for 20+ years, I'm still learning and growing in the sport. I don't know the precised demographic, but I assure you that there are many 50+ riders in the club.
I have been riding for two years now and I am over 50! My wife is trying to love riding as much as I do, so much so that we bought a tandem. Riding in a club is fun. I tell people thinking of joining our club and beginning to ride a bicycle that is very social. I also tell them that I ride to eat! I think there are others in the club that enjoy this aspect too! Riding in a club through the back roads of TN is one of the most enjoyable things I have done. And fitness is just a plus.
As far as purchasing a bicycle...if new, go to MOAB and talk to the boys there. If you would rather buy used, just ask on this board. Somebody has something you could try out or purchase relatively expensively. Size of the bike is very important as it needs to be able to be sized / adjusted to fit you.
I would not consider age to be a factor in determining whether or not to begin riding. Most of the people I ride with range in age from 40 to 60 and I know of many others over 60. Besides, 50 is the new 40 or at least I told myself that 40 was the new 30.
You do not have to spend thousands of dollars to begin riding. You can find good used and new bikes without spending your children's inheritance. Size matters when choosing a bike and you should have someone at the bike shop check your fit and set up the bike properly. You can always check out what they have at the shop or post a request on this board to borrow a bike or to see if someone has one to sell. See you on the road.
I recently rode alongside an elderly gentleman. We were both moving at a decent clip. He was riding into the wind on a fixed-gear bike. He said that he was 80 years old. ... born in 1929! The quotes I remember were: 1) "I have lost some leg strength, so I try to keep my weight between 134 and 136." and 2) "I'll never get off my bike." How's that for some inspiration! Maybe it will help answer your question.