The present study aimed to advance the current understanding of the relation between disability and subjective well-being by examining the extent to which different facets of subjective well-being (life satisfaction, positive affect, and negative affect) change before and after disability onset, and the extent to which age and type of disability moderate such changes. Multiphase growth-curve models to prospective longitudinal survey data from Waves 1-16 of the Household, Income and Labour Dynamics in Australia (HILDA) survey (N = 3,795; mean age = 50.22; age range: 16-99; 51% women).