This study explored a nationally representative longitudinal data set of 5273 adults, all born in 1958, examining the stability and change of quality-of-life (QoL) over five years. It also examined the associations between QoL and a set of socio-demographic, psychological and health variables in relation to QoL at both points in time. Results showed that self-report QoL scores were fairly stable over five years (r = 0.59), though there was a statistically significant increase in the total scores of QoL between age 50 to age 55 years. Correlational analysis showed parental social status indicators (measured at birth), childhood intelligence (measured at age 11 years), educational qualifications (measured at age 33 years), occupational levels, income and health, and the Big-Five personality factors (all measured at age 50 years) were all significantly associated with adult QoL. The strongest correlate of adult QoL was self-assessed health measured five years earlier, followed by the Big-Five personality factors, education and occupation, as well as parental social status. Gender was not significantly associated with QoL at either time points. Multiple linear regression analyses showed income, health and three of the Big-Five personality factors (Extraversion, Emotional Stability, Conscientiousness) were significant and independent predictors of QoL at age 55 years. After entering the initial QoL assessed five years earlier, health, traits Extraversion and Emotional Stability and initial QoL were significant predictors of the outcome variable. The implications and limitations of this study are discussed.