A nationally representative panel study of British households was used to examine the extent to which Big Five personality traits interact with the experience of major life events (marriage, childbirth, unemployment, and widowhood) to predict increases and decreases in life satisfaction following the event. Results show that major life events are associated with changes in life satisfaction, and some of these changes are very long lasting. Personality traits did not have consistent moderating effects on the association between stressful life events and life satisfaction over time.