Objectives. The current study compared four conceptualizations of the structural relations of awareness of age-related change (AARC), inductive reasoning (IR), and psychological well-being (PWB), given their shared connections with successful aging and mixed empirical and theoretical support for their interrelations.Method. Data were collected online for 199 older adults (60-80 years). Four structural equation models, with latent variables for AARC gains, AARC losses, IR, and PWB, were estimated: (1) IR to AARC to PWB, (2) AARC to IR to PWB, (3) PWB to AARC to IR, and (4) PWB to IR to AARC.Results. More support was found for higher IR as a predictor of less AARC losses and AARC gains than the converse relationships. Similarly, AARC gains and AARC losses related more strongly to PWB than the converse relationships. Significant indirect pathways from IR to PWB through AARC suggested that AARC gains and losses may explain the relation of IR with PWB.Conclusion. These findings expanded the literature regarding the relationships between AARC, IR, and PWB, highlight the importance of each variable in the lives of older adults, and can be used to inform psychological interventions used by clinicians working with older adults to promote successful aging.