What might add quality to life during the last period of the life cycle? In study I, five focus groups of elderly participants representing different ages and socioeconomic backgrounds provided descriptions of quality of life (QOL) from their own perspectives. These descriptions formed the basis of a questionnaire that was administered to a representative, random sample of older persons in Hong Kong (N = 1,616) in study II. The study II sample was further randomly split into two. Exploratory factor analysis on sample A identified four factors: generativity, interpersonal (including intergenerational) relations, physical functioning, and material life. Results of confirmatory factor analysis on sample B showed that the 4-factor QOL model provided a good fit to the data, and that the constructs measured were identical (invariant) between older men and women and between the young-old and the old-old. In study III, the findings were disseminated back to an independent sample of older persons meeting in focus groups, who provided verbal confirmations to the model. The findings shed light on possible community psychology interventions to promote wellness in the elderly. (Contains 4 tables, 1 figure and 3 footnotes.)