Practicing psychiatrists frequently encounter elderly patients with generalized anxiety disorder or panic disorder. Unfortunately, the empirical literature regarding the assessment, diagnosis, and treatment of these illnesses in older individuals is sparse, despite the attention directed to them in younger patients. In this paper studies of generalized anxiety and panic disorders among the elderly are reviewed and compared to similar investigations among younger adults to assess our current understanding of the epidemiology, etiology, diagnosis, and treatment of these conditions. Articles were selected from those retrieved by Index Medicus (papers in English, published in 1992 or later; search terms "anxiety," "anxiety disorders," "panic disorder," and "elderly").