Socio‐emotional selectivity theory holds that older age is associated with a sense of limited remaining time. We suggest that life story chapters may be involved in this experience. In this first study on the connection between socio‐emotional selectivity theory and chapters, we examined whether older age is associated with fewer, temporally less distant, and less positive future chapters. We also examined relations between chapters and subjective well‐being. Two samples (18–84 years) described past and future chapters and completed well‐being measures. Older age was associated with fewer, less temporally extended, and less positive future chapters. Less positive past chapters was most consistently related to lower subjective well‐being, but less positive future chapters also predicted lower subjective well‐being in some analyses. Copyright © 2017 John Wiley & Sons, Ltd.