The aim of this research was to investigate how the Big Five and Type A personality variables relate to psychological well-being. Additionally, the study examined the effect of age on psychological well-being. Various social media sites such as Facebook were used to recruit 286 Participants (209 males, 74 females) from the community population. The sample was broad with an age range 18-85. Participants completed a demographic measure as well as the Ryff’s Psychological Well-being scale, the International Personality Item Pool- Big Five Scale, the Framingham Type A Behavior Scale and a Social Desirability Scale. Pearson’s product correlations and a hierarchical multiple regression were performed to determine the ability of the personality variables and Type A personality scores to predict psychological well-being. The results indicated that the personality variables (the Big Five) predicted psychological well-being but that the addition of variance from the Type A personality variable added insignificantly to the prediction. Psychological well-being was negatively correlated with age. Further studies on personality and psychological wellbeing are needed, including the role of mindfulness in contributing along with personality variables to psychological well-being.