This study examined the psychosocial correlates and psychometric properties of the Self-Assessed Wisdom Scale (SAWS) (Webster, 2003a). Seventy-three men and 98 women ranging in age from 17–92 years (Mean age = 42.77) completed an expanded, 40-item version of the SAWS, the Loyola Generativity Scale, and the Experiences in Close Relationships Scale. A new definition of wisdom is provided which is operationalized with the SAWS. Results indicated that the SAWS has excellent reliability (test-retest = .838; Cronbach's Alpha = .904). Exploratory and Confirmatory Factor analyses confirmed the five hypothesized dimensions of wisdom and the total SAWS score correlated in predicted directions with generativity ( r(169) = .448; p < .01) and attachment avoidance ( r(169) = –.239, p < .01) demonstrating construct validity.