Purpose: To investigate the impact of psychological well-being on psycho-social in the elderly and middle aged Adults. Methods: A sample of the 209 elderly and 181 middle aged adults. Data analysis was done by pearson correlation coefficient and multiple regression. Results: First, there were significant differences between the groups in gender, religion, education, marital status, occupation and family coresidence in homogeneity tests. Second, psychological well-being, hope, self-esteem, depression and life satisfaction were significantly correlated each other in the both groups. Third, there were significant differences in psychological well-being, hope, self-esteem and depression between two groups. For middle aged adults self-esteem was influencing most in psychologic well-being while hope affected most for the elderly. Conclusion: Based on the results of the study, it is important to improve psychological well-being to prepare successful elderly life.