Abstract This study aimed to identify predictive factors for subjective and psychological well-being in a sample of 265 older adults enrolled in the University of the Third Age (U3A). The scales used were: General Satisfaction with Life Scale and referenced to the domains, Positive and Negative Affect Scale and Personal Development Scale. Multivariate logistic analysis indicated that being 70 or older and male was associated with the subjective well-being and having higher education level was associated with psychological well-being. It was concluded that sociodemographic characteristics of the interviewed elders enrolled in U3A can be important attributes that influence well-being.