The Strengths and Vulnerabilities Integration model (Charles, 2010) suggests older adults experience difficulty regulating emotions with high-arousal negative stimuli due to decreases in resources. We investigate relationships among age, physical and cognitive resources, emotional experience, and perceived emotion regulation (ER) needs. Participants aged 25-85 (N = 290) completed assessments of cognitive ability and physical health. In an experience sampling procedure (6x per day for 10 days), participants reported their momentary emotion experience and perceived need to regulate their emotions. Regardless of arousal level, negative emotion was associated with higher ER need and positive emotion was associated with lower ER need. This pro-hedonic orientation was stronger among older adults and individuals with more cognitive resources. In contrast to predictions, older adults in poor physical health who experience high levels of high-arousal negative emotion on average reported lower ER need compared with younger adults in poor physical health. However, older adults with lower cognitive resources who experience high levels of high-arousal negative emotion on average reported higher ER need. Findings suggest that younger age and lower levels of cognitive ability are linked to less perceived need to regulate negative emotional states. Physical vulnerabilities also may dampen the perceived need for regulating high-arousal negative emotions, but only among older adults. Age-related shifts in resources and emotional goals may influence the likelihood that individuals are motivated to engage in ER, as well as the effectiveness of those efforts.