The present study examines the impact of functional disability on subjective well-being (SWB) and the moderating effects of personal resources on a sample of 144 community-dwelling, older adult couples age 60–84 years, with emphasis on gender differences in both direct and moderating effects. Functional disability in self and in the spouse was associated with poorer well-being in both men and women, but differences were found by gender in the effects of coping resources. While high neuroticism was associated with poorer well-being for both husbands and wives, extraversion and social support had unique benefits in enhancing well-being only in husbands. Husbands were more introverted, and had fewer social resources, and individual differences in social resources may be more critical for older husbands. Results are interpreted in terms of gender differences in coping and their implications for interventions to enhance well-being in older adults.