This study examined a combination offactors that influence subjective well-beingofrural adults in late old age and compared factors influencing subjective well-being across time. A 12-year follow-up study revealed a small, but highly reliable drop in morale for the sample as a whole. Personal competencyfactors, health, and perceived economic adequacy were most important to explaining morale at both Time 1 and Time 2. Social interaction emerged as relatively more important to subjective well-being at Time 2. Individual change in morale was highlighted by identifying variables that distinguished persons who declined on morale versus those whose morale was stable or improved. Persons who remained married at Time 2 were more likely to have declined on morale. This finding was possibly due to reduced social interaction and caregiving.