Americans 55 and older now control close to $140 trillion in household wealth, giving older consumers extraordinary influence over where money is spent across the U.S. economy.

A new Bank of America Institute analysis found that households headed by people over 55 held close to $140 trillion in net worth during the second quarter of 2026. The finding comes as America’s population gets older and millions of people move from their working years into retirement.

The numbers help explain why companies from airlines and hotels to grocery chains and health care providers are paying closer attention to older customers.

In simple terms, older Americans increasingly have two things that matter enormously to businesses: money and time.

The Federal Reserve reported that total U.S. household and nonprofit net worth climbed $12.8 trillion during the second quarter alone, reaching $195.9 trillion, with rising stock values accounting for much of the increase.

Bank of America said Americans over 55 have benefited significantly from that wealth creation. But the shift is about more than the stock market.

America itself is getting older.

The share of the population over 60 increased by almost 10 percentage points between 1995 and 2025. By 2055, that group is projected to represent nearly 30% of the population, according to Census Bureau projections cited by Bank of America.

That demographic change is altering how Americans spend.

People 65 and older spend about 2½ fewer hours each day working and roughly two more hours on leisure than the overall adult population, according to Bank of America’s analysis. Its card data also shows older households devote relatively more of their spending to groceries and travel and less to restaurants, gasoline, clothing and general merchandise.

Federal time-use data backs up the difference.

Americans 65 to 74 spent an average of 6.9 hours a day on leisure and sports activities in 2025, while those 75 and older spent 7.4 hours. By comparison, Americans between 35 and 44 spent just 3.9 hours.

Television accounts for a large portion of that leisure time. Americans 65 and older averaged about 4.3 hours of television viewing per day, compared with 2.6 hours for Americans overall.

For businesses, those numbers point toward a major shift in the consumer economy.

Older Americans with sufficient savings have more opportunity to travel, take cruises, stay in hotels and spend on leisure activities. Bank of America’s card data shows older households already devote a relatively larger share of their spending to travel and groceries.

But there is another side to the story.

The nearly $140 trillion figure does not mean every older American is wealthy.

Bank of America specifically cautioned that wealth is unevenly distributed and that health care and other rising costs remain significant pressures for retirees living on fixed or limited incomes.

That divide could become increasingly important.

Older households that own homes outright, hold retirement accounts and benefited from rising stock prices may have considerable spending power. Retirees without those assets are much more exposed to increases in food, fuel, housing and medical costs.

Gasoline provides one example. AAA reported that regular gasoline averaged $4.41 a gallon nationally on Oct. 1, $1.25 more than a year earlier. September’s $4.33 monthly average was the highest ever recorded for that month.

Health care represents an even longer-term challenge because medical expenses generally consume a larger portion of household budgets as people age.

The result is an American economy increasingly influenced by two very different groups of older consumers: those entering retirement with substantial accumulated wealth and those relying heavily on fixed incomes.

For corporate America, understanding that distinction will matter.

The population over 60 is expected to continue expanding for decades, meaning the spending decisions of Americans in their 60s, 70s and beyond will increasingly influence industries ranging from travel and entertainment to groceries, housing and health care.

America’s aging population is no longer simply a demographic story.

With nearly $140 trillion controlled by households over 55, it is becoming one of the biggest consumer stories in the U.S. economy.

JBizNews Desk | Charlotte, N.C.

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