Socioemotional selectivity theory (SST) posits that emotionally close relationships are increasingly valued as people perceive constraints on time. Based on SST, this study of 1,532 older married persons hypothesized that emotional dimensions of marriage would more strongly predict adjustment at higher levels of functional disability. High levels of marital closeness were negatively associated with depression and anxiety and positively associated with self-esteem. Consistent with predictions derived from SST, marital closeness moderated the negative psychological effects of high levels of functional disability on depression, anxiety, and self-esteem. Results are discussed in the context of SST and traditional stress-buffering models of social support.