We draw on Bourdieu’s and Goffman’s theories to elaborate the novel idea of dependency as status in old age, a concept that emerged from our Grounded Theory study conducted with 46 older adults (26 women and 20 men) living in and around Dublin, Ireland. The research participants’ portrayals of (in)dependence and assistance reflected their access to and use of social and symbolic (age) capital. Older adults derived social capital from supportive family relations or trusting relationships with formal care providers, and deployed such capital to signal their status as “cared for” individuals. Age capital—constructions of deservingness drawing on advanced age, age-related disabilities, and lifelong contributions—was used by older adults to frame and justify acceptance of help. We argue that where older adults are able to draw on age capital or social capital, they can signal their position as “cared for” individuals who display and acknowledge their dependency, and transform it into a marker of status. Conversely, some participants were keen to present themselves as independent. These participants made downward comparisons with others whom they saw as “worse off” or, in their view, as insufficiently responsible for their own health and well-being. In the contemporary Western frame, dependency is to be avoided at all costs, but we argue that some older people are able to embrace dependency in a way that reflects and demonstrates their status and agency. Care professionals and members of informal networks can make a significant difference to older persons’ acceptance of help, care, and support by offering services in a manner that affirms the care recipients’ worth and agency.