Successful aging is a multidimensional construct that has been used by a variety of clinical and empirical disciplines to describe physical and psychological well-being among the elderly. While biomedical models of successful aging rely on fixed criteria related to health and disability status, psychological models emphasize dynamic processes that promote life satisfaction in the face of age-related declines. Psychological models have proposed individual traits that are associated with successful aging processes, including those related to coping with, adapting to, and compensating for age-related challenges (e.g., tenacious goal pursuit, flexibility, etc.). Grit is a noncognitive trait that may promote coping and compensation but has been relatively unexamined in relation to successful aging. The ability to adapt to age-related losses, such as physical disability and cognitive decline, may represent a previously unexplored facet of grit that is specific to older adults. Preserved cognitive functioning is an important component of successful aging that may be promoted by grit and the use of compensatory strategies. In the context of atypical cognitive decline, however, grit may fail to promote effective compensation and may instead result in the use of unsuccessful strategies or “costly perseverance.”