Psychological wellbeing involves not only the absence of illness but the presence of something positive such as growth, positive relationships, autonomy, purpose, etc. It is the experience of health, happiness, and prosperity. It includes having good mental health, high life satisfaction, a sense of meaning or purpose, and the ability to manage stress. Basically, well-being is just feeling well. Here are some of the parameters that attempt to measure well-being: Resilience, Adaptability, Emotional Stability, Positive Affect.
The American Psychological Association (2014) defines Resilience as “the process of adapting well in the face of adversity, trauma, tragedy, threats or even significant sources of stress” This essentially means that in case of a traumatic event, how quick can you “bounce back” and get the closest you can to the kind of life you had before the event. This event could be anything from the loss of a loved one, loss of a pet, separations, too much stress due to multiple factors, societal pressures, harassment, abuse, etc. It teaches you to manage your risks better.