Quick Answer: Well-being is what is intrinsically good for a person. Also called welfare and quality of life, it is a measure of how well life is going for someone. In the broadest sense, it covers the balance of all positive and negative aspects of a person's life. More narrowly, it refers only to positive degrees and contrasts with ill-being, which denotes negative ones. In this sense, well-being is what egoists typically seek for themselves and altruists aim to enhance in others, serving as a central goal of many individual and societal endeavors. Researchers discuss different types of well-being by how they are measured, who they belong to, and which domain of life they affect. Subjective well-being refers to how a person feels about and evaluates their life. Objective well-being encompasses factors that can be assessed from an external perspective, such as health, income, and security.