Background: Social status is the standing of a person or group in the social hierarchy, and is perceived to change across the life span from low social status in early life, to peak in midlife, and to a decline thereafter. As threats to subjective social status are known to be detrimental to individuals’ health, it is important to better understand how older adults perceive themselves and others in terms of age-related social status. Objective: We examined status ambivalence – the potential discrepancy between how older adults’ perceive social status for themselves compared to older adults in general. Method: Study 1 used qualitative data from 37 semi-structured interviews with older adults to assess perceptions of social status. Study 2 used quantitative survey data from 114 older adults who completed explicit and implicit measures of social status. Results: Study 1 (n = 37, meanage = 71.72, SDage = 5.69; 81.1% women) provided preliminary evidence for status ambivalence such that older adults reported unequivocal low social status for other older adults but a more ambivalent perception of their own social status. Study 2 (n = 114, meanage = 64.32, SDage = 8.98, 57.9% women) compared implicit and explicit measures of social status revealing that older adults consistently perceive older adults to have low social status but again show a more ambivalent perception of their own social status. Conclusion: We discuss status ambivalence as a potential protective mechanism in the context of negative societal perceptions of age-related social status that may be important for well-being in later life.