Data from a German longitudinal study illustrates how life satisfaction changes around key life events. Marriage is associated with a temporary rise in satisfaction that peaks during the year of the event before returning to baseline. In contrast, both unemployment and the death of a spouse cause significant, long-term drops in life satisfaction. For unemployment, satisfaction declines sharply leading up to the event and remains at a much lower level. For widowhood, satisfaction declines steadily before the event and, despite a gradual rise afterward, also settles at a similarly low level to that of unemployment five years later.