Immigrant-origin youth in Germany are faced with various acculturative challenges, including discrimination, language, and sociocultural hassles. Constituting additional stress to normative developmental tasks in adolescence, immigrant-origin youth are in need of supportive resources fostering their well-being. Drawing on the risk and resilience framework and applying a strength-based perspective, the current study investigated refugee youth’s and youth of immigrant descents’ perspectives on their main challenges, tasks, and resources in Germany. The present study paid special attention to the interplay of acculturative challenges and developmental tasks in relation to the youth’s resources and their psychological well-being. Semi-structured interviews with six refugee youth and five second-generation youth of immigrant descent including nine boys and two girls between the ages of 14 – 16 (Mage = 15.45, SDage = 0.69) were analyzed. Using thematic analysis, data was structured in four themes: 1) acculturative challenges, 2) developmental tasks, 3) personal resources, and 4) social resources. Results highlight the importance of personal (incl., individual characteristics, identity, religion) and social (incl., supportive friends, family, teachers) resources to master the range of acculturative challenges (incl., language barriers, perceived ethnic and religious discrimination, cultural differences) and developmental tasks (incl., negotiation of autonomy, academic future planning). In addition, results indicate the importance of social resources for refugee youth and youth of immigrant descent when dealing with discriminatory experiences. Our findings offer practical implications for schools in terms of interventions focusing on both the strengthening of personal and social resources, and the reduction of challenges to promote immigrant-origin youth’s psychological well-being.