Questionnaires were administered to 105 HIV-positive men to assess their stressful life events, rated stress, unhealthy behaviours, and psychological adjustment. Two hypotheses about the effects of stressors and stress were tested. It was found that HIV-positive men experience high numbers of stressors and elevated levels of perceived stress and depression. Stressors in the areas of relationships, finances, and the illness of others were the most problematic and were associated with more depression. Rates of alcohol consumption, smoking, and unsafe sexual behaviours were fairly high. There were some modest, but significant positive correlations between stressors, stress, and risky behaviours. Number of stressors was associated with more alcohol consumption and perceived stress was positively related to more tobacco use and unsafe sexual behaviours. The high levels of stress and stressors and negative effects of stressors have both theoretical and practical implications.