Ageing, by definition, involves moving across lived time. Grounded in developmental psychology, particularly lifespan developmental theory, this study examines two time-related factors that may affect psychological wellbeing in adulthood. Particularly, chronological age and perceived time left to live (i.e. future time perspective) are predicted to act as opposing forces in the construction of psychological wellbeing. Young (N = 285, 19–29 years) and middle-aged adults (N = 135, 47–64 years) self-reported their current psychological wellbeing (across six dimensions) and their sense of future time perspective. As predicted, mediation analyses show that higher levels of chronological age (being in midlife), and having a more open-ended, positive future time perspective are both related to higher psychological wellbeing. Note, however, that being in midlife is related to a more limited and negative future time perspective. As such, confirming our conceptual argument, while both age and future perspective are measures of time in a general sense, analyses show that they act as unique, opposing forces in the construction of psychological wellbeing. The current research suggests that individuals can optimise psychological wellbeing to the extent that they maintain an open-ended and positive sense of the future.