Leisure research among the elderly has not kept pace with its significance in their lives. While the centrality of work is often discussed, a comparable role for leisure is seldom acknowledged. Through a blending of life-course and structural-level perspectives this paper discusses the need for conceptual innovation in leisure research. A broader perspective on the nature of leisure, its structure and the emerging need to address leisure as a form of consumption is advocated. Recognition of the identity-affirming nature of leisure and consumption will greatly enhance the focus of leisure research.