Most people have positive views of their general happiness or subjective well-being (SWB). Furthermore, SWB tends to be stable and rebound to prior levels following events or circumstances that might be expected to change its level. The authors speculate about ways a theory of person-environment transactions--Holland's theory of vocational personalities and work environments--may help individuals understand some of the observed features of SWB. Testable hypotheses are offered as suggestions for advancing research on both the theory and SWB.