A growing body of work suggests that co-research with older adults contributes to a better understanding of later experienced health and social problems. Yet, few studies have involved minoritised older people as co-researchers, and there has been a lack of critical appraisal of challenges encountered in the process. In response, this paper presents lessons from a project which was aimed at co-producing research to explore experiences of loneliness with and by ethnically and sexually minoritised older people (50+) in Greater Manchester (United Kingdom). The paper presents findings based upon field notes and focus groups with ten older co-researchers reflecting on their motivations,roles, and responsibilities. Four themes will be critically assessed: power and privilege; co-research as an extractive process; co-ownership; and time and financial constraints. At the core of this paper is an examination of how the power held by academics shape opportunities for individuals to meaningfully engage in co-research.