This study investigated the associations between leisure consumption and well-being in older adults (50-74 years old). To find out whether these associations are age-specific, they were compared with the associations observed among younger adults (18-49 years old). Differences between the older adults by age and life situation were also examined. This study was based on the "Finland 2014 -Consumption and Life style" survey (N=1351), conducted among a representative sample of the Finnish adult population. Well-being was measured as mental, economic and physical well-being. Objects of leisure consumption were grouped by factor analysis, and the associations between the resulting leisure consumption factors and the dimensions of well-being were studied using regression analysis. In addition, interaction terms were used to compare differences in the associations between younger and older adults, and among older adults varying in their life situation.In the older adults, appearance was related to better mental well-being, literature & culture to better economic well-being, and exercise to better physical well-being. Travel was linked positively to all the dimensions of well-being, and health care negatively to mental and physical well-being. Some differences in the associations were observed between the younger and older adults; for example, exercise but not appearance was associated with better emotional well-being among the younger adults. In general, the associations were stronger in the older than younger adults. Among the older adults, age, employment status, and marital status moderated some associations. Further research, especially with longitudinal data, is needed to clarify the causal relationships between leisure consumption and well-being.