Given the developmental benefits associated with higher sense of purpose, past work has aimed to understand how experiences of adversity relate to sense of purpose. With a specific focus on experiences of adversity that may impact individuals from marginalized groups, past work has found that discrimination is related to lower sense of purpose in life, but that these effects are weaker for Black adults relative to White adults. The current research aims to extend past work by examining how and for whom discrimination is related to sense of purpose in life. Moreover, the current work also aimed to understand the extent to which sense of purpose spans across generations and whether there are generational differences in the relationship between discrimination and sense of purpose. Using data from the St. Louis Personality and Aging Network study, 822 parents (G1 participants) and 654 children (G2 participants) completed measures for sense of purpose, major experiences of discrimination, and personality traits. Results found mixed evidence for a relationship between discrimination and sense of purpose, with little evidence for consistent moderators. In addition, while the current work found no evidence of intergenerational associations for sense of purpose, results showed that discrimination was positively associated across generations, suggesting a potential for an intergenerational cycle of marginalization.