In this paper we examine the relationships between subjective well-being, age, and geography before (2019) and during (2020) the COVID-19 pandemic. Utilizing survey data, subjective well-being is examined through measures on i) perceived life satisfaction, and ii) self-reported health status. Given that elderly individuals, aged 70 and above, were at greater risk of becoming seriously ill from the virus, we conduct further analyses with a special focus on this group of individuals. Our analyses show that older individuals have higher life satisfaction than other age groups - both before the pandemic and during the pandemic. On the other hand, older individuals report worse health conditions, and the difference in self-reported health status between elderly and younger people is even greater during the pandemic. In terms of geography, we find that elderly people living in larger cities have significantly lower levels of life satisfaction than those living in small agglomerations or rural areas - but report significantly higher health status - especially during the pandemic.