Much of the scientific work on emotion regulation has examined strategies in isolation. Now that we have a better understanding of emotion regulatory strategy use and frequency, there is an opportunity to explore new psychological territory. As a starting point, we illustrate how a highly touted strategy, cognitive reappraisal, supercharges a critical component of well-being: purpose in life. We also examine how purpose in life offers a framework to better understand when and how cognitive reappraisal is adaptive. Examining emotion regulation in the context of a sense of purpose in life opens portals to new questions and testable hypotheses. We end with a reconsideration of emotion regulation flexibility over hyper specialization on singular strategies such as reappraisal. Our aim is to inspire research that examines how emotion regulation facilitates or hinders important elements of the good life, as well as how elements of well-being inform regulation choice and success.