A large share of the American population suffers from traumatic experiences early in life. Many adults are also victims of trauma. Using data drawn from the National Comorbidity Survey–Replication, we examine the link between self-reported happiness, a broad gauge of subjective well-being, and four types of traumatic victimization that may occur at various points in the life cycle. In particular, we consider the association between home violence, sexual assault, community violence, and stalking and subsequent victims’ adult happiness. For females and males, we find that each of these traumas significantly reduces self-reported happiness later in the life course, and for both women and men, the estimated impact of home violence is greatest. Furthermore, we find that the adverse effects of trauma on happiness are comparable to the impact of critical socioeconomic developments on happiness. Moreover, we find that experiencing more than one type of these four traumas has a greater negative impact on subsequent happiness than experiencing only one type. Our findings are robust to the inclusion of a wide range of controls, and the influence of trauma on subsequent happiness is independent of personal and family characteristics. Since happiness and mental health are closely related, our work suggests that traumatic victimization undermines overall health and well-being in the U.S.