An analysis of the literature revealed that conceptualizations of the nature of psychological well-being are very diverse, and that it is still unclear what the nature and/or dimensions of psychological well-being are. Scales based on several models and constructs from diverse theoretical traditions were completed by a multicultural group of 550 participants. The validity of the scales for use in this particular group was determined. The manifestations of psychological well-being in different gender, cultural and age groups were compared. Similarities and differences were found. In a factor analysis on the data of the total group, a general psychological well-being factor was identified. Psychological well-being seems to be multidimensional with regard to facets of self that are involved (e.g., affect, cognition, behaviour), as well as with regard to the domains of life in which these facets manifest themselves (e.g., intra- and interpersonal, social and contextual, in love and work). A sense of coherence, satisfaction with life and affect-balance are strong indicators of general psychological well-being. Findings from this perspective may point to new directions for capacity building.