Objective: The present study examined the role of neuroticism in older individuals’ self-reports of mobility. The authors hypothesized that neuroticism would modify the association between performance-based and self-reported measures of mobility. Method: Using a stratified sample of 459 community-dwelling elders, a hierarchical regression analysis was conducted to assess the effects of physical performance and neuroticism in predicting self-reported mobility. Results: Composite measures of lower body performance and self-reported mobility had a moderate correlation. In the regression model of self-reported mobility, neuroticism had both a direct effect and an interaction effect with physical performance. Discussion: Given a certain level of physical performance, individuals who scored high on neuroticism were more likely to report disability. Also, the combination of poor performance and high neuroticism increased self-reported disability. The findings suggest that neuroticism may play an important role in subjective perception and should be considered in the interpretation of data based on self-reports.