There has been an explosion of new knowledge and theory in recent years about emotion in late life. In this talk, I will describe two quite different paths that our emotional lives may take. The first path is associated with healthy aging and involves a number of areas in which emotional functioning in preserved and even improves. The second path is associated with neurodegenerative diseases that can produce dramatic declines in emotional functioning. The presentation will draw heavily from our laboratory studies of emotional functioning in individuals and in couples in intimate relationships.