['To examine the association of alcohol consumption with well-being in mid-aged Australian women, taking into account other lifestyle factors.', "A prospective, observational study was carried out among 438 urban Australian women aged 45-55 years at baseline. They were assessed annually for 8 years using a questionnaire on health and lifestyle, including self-ratings of well-being and daily 'hassles'. Statistical analyses were performed using cluster and repeated measures analyses.", 'About 80% of the women had consumed alcohol in the week preceding the interview. Alcohol intake was weakly associated with well-being overall (p = 0.094). Women who consumed alcohol at moderate levels had higher well-being scores than non-drinkers or heavy drinkers, however, provided they were also non-smokers and exercised weekly or more (p for interaction = 0.023) (21% of all study participants). Everyday symptoms and stresses had a negative impact on well-being (all p values < 0.001).'] Does moderate alcohol consumption contribute to women 's well-being through the menopausal transition?