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Procrastination—a voluntary delay of an intended action despite negative consequences—is a widespread phenomenon. Previous research has mainly focused on procrastination in specific situations and has not examined the extent to which procrastination is an enduring characteristic over time. We therefore examined procrastination, its predictors and life outcomes over 18 years from graduation year onwards in a large sample of young adults (N = 3023). We found that procrastination decreased with age and most clearly in the transition from university to work. We also found that it predicted consequential life outcomes 16 years later. This first long-term longitudinal examination of procrastination shows developmental continuity and change over time and reveals that it has serious consequences for important life achievements.