This study explored the emerging Self-Imposed Activity Limitation (SIAL) theory among community dwelling elders. This theory was examined using the proposed Aging Well Conceptual model which was guided by Baltes' Selection, Optimization with Compensation model, Markus and Nurius' Envisioned Possible Selves theory, Kuypers and Bengtson's Social Breakdown Syndrome model, Bandura's Self-Efficacy theory, and Rotter's Locus of Control theory. The objectives of this study were to explore the relationships among multiple variables in a hierarchical model and to examine the explanatory power of the SIAL variables in predicting elders' well-being.A correlational descriptive design with a causal modeling approach was used employing Structural Equation Modeling (SEM) techniques. The Aging Well model was tested through a secondary analysis of the National Survey of Midlife Development in the United States (MIDUS) database selecting respondents aged 65-74 years.Two research questions guided this study. Research question one, how well does the Aging Well model fit with empirical sample data, was explored. The Aging Well model statistically approximated the MIDUS data after theoretical and statistical modifications and explained 76% of the variance of elder's well-being. The mediating effects of SIAL variables were determined by nested alternative model testing. Research question two, are the proposition statements in the Aging Well model valid, and was demonstrated empirically by the expected patterns of correlation and covariance among most of the variables in the Aging Well model.SIAL as a composite factor had a large positive effect on elder's well-being. Elders' perceived constraints and perception of aging had no direct effect on well-being. The influences of these two factors on well-being were mediated by a common factor, SIAL. These findings supported the emerging SIAL theory by suggesting that the optimal use of SIAL would lead to adaptive outcomes promoting elders' well-being. In addition, SIAL mediated the effects of elders' sense of control and perception of aging on well-being. The full range of SIAL could not be examined due to limitations inherent in secondary data analysis.