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Objective: The aim of the present study was to investigate the relationship between flexible goal adjustment and life satisfaction (as an enduring component of subjective well-being) using six-year longitudinal data from a sample of older adults.Methods: The study included 704 participants aged 63–97 years assessed four times over a six-year period. Simultaneous and lagged models were specified and estimated using structural equation modeling.Results: Both simultaneous and lagged coefficients indicated that a high score on flexible goal adjustment significantly predicted subsequent levels of life satisfaction.Conclusion: In line with successful aging theory, our findings support the view that the ability to adjust personal goals flexibly is a central resource when unattainable goals are encountered and it contributes to well-being in old age.