Read our full analysis for a more in-depth look at these trends.
Entering the age of the older consumer
As America ages, older consumers have more leisure time, significant wealth and growing economic influence.
October 2026
Key takeaways
- The older consumer is moving center stage. America's population has been aging for decades, but the shift has accelerated: the share aged over 60 increased by almost 10 percentage points (pp) between 1995 and 2025. And the Census Bureau projects the share of the population over 60 will rise another 5pp by 2055, to stand at nearly 30% of the population.
- More free time means a different spending mix. People aged 65 and over spend around two and a half fewer hours per day working and roughly two hours more on leisure than the overall adult population. Bank of America data shows that older households allocate relatively more of their card spending to groceries and travel, and less to restaurants, gasoline, general merchandise and clothing.
- Households aged over 55 held close to $140 trillion in net worth in the second quarter of 2026, giving many older consumers considerable capacity to spend on travel and other leisure categories. But wealth is not evenly distributed, and healthcare and other cost pressures remain significant for older households on tighter or fixed incomes.
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