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Older households hold $140 trillion in net worth, Bank of America says

Bank of America Institute data shows households headed by someone 55 or older account for a major share of economic activity, and 14% of older Social Security recipients rely on that net worth for at least 90% of income.

Reported · Written up by our desk · Residential

HousingWire highlights findings from a new Bank of America Institute report on the growing economic role of older Americans. The share of people age 60 and older rose from 1995 to 2025 by almost 10 percentage points, reaching 25%, and the U.S. Census Bureau projects it will climb another 5 points by 2055 to nearly 30%.

The report says households headed by someone 55 or older hold close to $140 trillion in net worth as of Q2 2026. It also notes that people 65 and older spend less time working than the 15-and-older population, with about two and a half fewer hours per day working and roughly two additional hours per day devoted to leisure and sports.

Bank of America Institute data further points to how older households may be exposed financially, with HousingWire citing that 14% of older Social Security recipients depend on their net worth for 90% or more of their income. HousingWire also reports that serious credit card delinquencies have increased for this group.

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