Two studies demonstrate the usefulness of a newly developed, direct assessment method of subjective conceptualizations of development across adulthood. Results of Study 1 (N = 234, 18–83 years) suggest that older adults anticipate stronger decline in four domains of functioning (subjective well-being, social relationships, cognition, physical functioning) than younger and middle-aged adults. Study 2 (N = 166, 20–85 years) showed that older adults’ conceptualizations show less differentiation across domains than those of younger and middle-aged adults’. Results of both studies confirm lifespan notions of multidirectionality (expectations of gains and losses) but also show age-related differences in multidimensionality of developmental conceptions (i.e., differences in expected trajectories between domains). Moreover, results provide evidence that favorable conceptions impact perceived controllability and actual subjective well-being.