Although research has shown that older adults are negatively affected by aging stereotypes, relatively few studies have attempted to identify those older adults who may be especially susceptible to these effects. The current research takes steps toward identifying older adults most susceptible to the effects of stereotype threat and investigates the consequence of stereotype threat on the well-being of older adults. Older adults were tested on their recall of a prose passage under normal or stereotype threatening conditions. Memory decrements for those in the threat condition were moderated by perceived stereotype threat such that greater decrements were seen for those who reported greater perceived threat. A similar pattern was observed for negative emotion, such that those in the threat condition who reported higher perceptions of threat experienced a greater decrease in positive emotions. Age group identification also proved to be an important factor, with the strongly identified performing worse than the weakly identified. As well, high age-group identification buffered some of the negative affective consequences associated with stereotype threat, which is consistent with some models of coping with stigma. (Contains 3 figures, 1 table, and 1 footnote.)