This article provides an overview of a model of psychological well-being put forth over 30 years ago. The intent was to advance new dimensions of positive functioning based on integration of clinical, developmental, existential, and humanistic thinking along with Aristotle’s writings about eudaimonia. The operationalization and validation of the model are briefly described, followed by an overview of scientific findings organized around (a) demographic and experiential predictors of well-being, (b) well-being as predictors of health and biomedical outcomes, (c) pathway studies that examine intervening processes (moderators, mediators), and (d) underlying mechanistic processes (neuroscience, genomics). Much prior work underscores the benefits of well-being, including for longevity. Widening socioeconomic inequality is, however, increasingly compromising the well-being of disadvantaged segments of the population. These problems have been exacerbated by recent historical stressors (Great Recession, COVID-19 pandemic). Cumulative hardships from these events and their implications for health are critical targets for future science and practice.