Per the Federal Communications Commission,  Amateur Radio is a personal (like a hobby, not for profit) use of 27 authorized frequency bands of the radio spectrum for any age person to investigate, train, and converse. Normally for most of us, it's a matter of studying and remembering a just a moderate amount of information and taking a multiple choice test to get your first privilege which is now a Technician License. Then you may advance and take the more difficult General and Extra Class exams which allows more privileges and frequency band use. Like CB or any other personal service radio you talk on - it's still "radio", but with more modes like FM, SSB, AM, CW, digital, etc. You can communicate across town, to the other side of the earth, to satellites, and even bounce signals off the moon. Lately it's even mixed in with the internet, if you desire, you can buy radios with these linked features, or another option - talk many places just using a cell phone app which links to a radio on the other end. 

Overall it's more than just buying a radio and antenna, it can also be an endless hobby that can challenge your technical and operating skills/abilities, or you can settle into your own niche which is fine also.  Currently with the advent of micro processors and the internet, amateur radio now has new transmissions modes, smaller and more capable equipment. Stuff that can sparks your interest, where you want to learn, communicate, make long term friends and even be a service to your community. Nets or check-in's are still very common where hams stand-by at a certain time and give a report/comment or just say hi, some nets may have a few to 30 or more check-in's in larger areas. Nets are a way to get some on-the-air practice and see who's being active out there in radio land. Overall ham radio is like taking an interest in technology and public service, instead of letting the technology of others consume your time & money. After you have operated and have been a ham for a while, it feels like your amateur call sign letters becomes who you are, like a second identity. It gets in your bones and you want to participate when you can.

Here are some possible things Amateur Radio Operators do:

Advancing the hobby by upgrading their license, teaching and testing others

Helping with community service and fund raising events

Having the ability to help in times of disasters and emergencies

Learning new communication technologies, and preserving old ways as well

Building electronic gadgets and antennas projects

Attending meetings, hamfests, communicating locally, and visiting others

Meeting new friends over the air - at any distance, verbally or digitally

Participating with old friends on nets from near to hundreds of miles away

It doesn't really cost that much to get started with your Technician FCC license, and it’s only a multiple choice test. Morse code was discontinued from the test several years ago, but it’s still alive and well around the world – if you want to take that challenge later on. The last few years some economy handy-talkies have become available and with simple materials you can make a better performing full size antenna. You can spend a little or a lot as you become more experienced. Many seasoned hams just use wire antennas and avoid the big towers / antennas, and do just fine.

Many Hams hang in with the hobby for their entire lives, while many hams start out strong and fizzle out rapidly, never to be heard again. If you enjoy people, building things, and want to spend some of your spare time learning about radio, antennas, interacting and making friends with other hams - then amateur radio may be a good way of life for you.

The ARRL, National Association for Amateur Radio (Amateur Radio Relay League) also has a good definition of "what ham radio is" on their site at  http://www.arrl.org/what-is-ham-radio . ARRL www.arrl.org  is the largest informative, supporting, and defending organization of ham radio - Investigate their website, and see what they have to offer.