Well-being theory (WBT) proposes five indicators of well-being [i.e., positive emotion, engagement, relationships, meaning, achievement (PERMA)] that are, independently, empirically supported predictors of flourishing (i.e., an optimal level of well-being; Seligman in Flourish: a visionary new understanding of happiness and well-being. Free Press, NY, 2011). However, there is limited empirical support for the multidimensional model suggested by WBT. Two studies sought to test and validate the higher-order factor structure of the five components of PERMA and PERMA's ability to predict concurrent and prospective flourishing outcomes (e.g., physical health, college success). In Study 1, a longitudinal examination of college students, participants completed measures of wellbeing (including four of the five PERMA indicators), physical health, and college success at the end of their sophomore, junior, and senior years. In Study 2, a larger, cross-sectional study was conducted online to further validate the PERMA model with a broader sample and all five PERMA indicators. Participants completed measures similar to those administered at Study 1 and other measures used to validate Study 1 measures. Results from Study 2 further validated the PERMA model by comparing Study 1 measures to established measures and by adding meaning to the model. Study 1 and Study 2 PERMA models predicted markers of well-being (e.g., vitality, life satisfaction) and flourishing (e.g., physical health). The two studies reported here provide cross-sectional and longitudinal support that WBT is useful for predicting flourishing.