Over the past few decades, interest has begun to surge in understanding the role of emotion in decision making, and more recently in studies across the adult life span. Relevant to age-related changes in decision making, theoretical perspectives in judgment and decision making draw critical distinctions between deliberative versus intuitive/affective processes, as well as integral versus incidental affect. Empirical findings demonstrate the central role of affect in various decision-related domains such as framing and risk taking. To situate this review within an adult life-span context, we focus on theoretical perspectives in adult development regarding emotion and motivation. As a result of age differences in deliberative and emotional processes, taking a life-span perspective is critical to advance a comprehensive and grounded understanding of the role of affect in decision making. Age-related shifts in information processing from negative toward positive material also have consequential implications. By taking a life-span perspective, not only will decision theorists and researchers benefit, but so too will practitioners who encounter individuals of various ages as they make consequential decisions.