Examined in this document are the different ways in which the age a woman has her first child might affect her later well-being. Specific questions addressed include: (1) How do teenage mothers compare later in life with young women who postpone their first birth to their early twenties? and (2) If they are less well off, what explanation can researchers provide as to the process? Data from two surveys, the National Longitudinal Survey of Young Women and the Michigan Panel Study of Income Dynamics, are used in the analysis. Of the variables available in the two data sets, this study examines race, age, parental socioeconomic status, number of siblings, whether the oldest child, urban or farm background, a foreign-born parent, southern background, religious affiliation (Catholic), and whether or not the respondent grew up with both natural parents, as possible determinants of both age at first birth and age at first marriage. Other factors considered include income, education, and labor force experience. Findings presented indicate that the age at which a woman bears her first child can contribute or detract from her well-being at a much later stage, but that this process does not have to be inevitable. (Author/EB)