This study examined the association between generativity and psychological well-being for a subsample of 1882 mid- to late-life parents using the MIDUS data set. Guided by Erikson's theory of psychosocial development, we tested a structural model of psychological well-being that also included direct and indirect effects (via generativity) of remembered pre-adult relationships with parents and current parental experiences with offspring on well-being. Respondents who recalled positive, trusting relationships with parents in childhood reported more positive parental experiences with their adult offspring and better psychological well-being. Current parental experiences had both indirect and direct effects on well-being too, but generativity had the strongest direct effects. Thus, it appears that the achievement of generativity plays a substantial role in well-being in mid- and late life. Findings also reveal that the impact of generativity on well-being is stronger for females than males. Implications for intervention with older adults, such as promoting volunteer work, are discussed. (Contains 3 tables and 2 figures.)