Wellbeing is generally conceptualized as being essentially inner to an individual; discourse analysis would seem to have nothing to say here. In this chapter, we take the case of ageing and wellbeing as a case study for examining just what micro-analysis of interaction can offer us in terms of both understanding and researching states like wellbeing in later life. Drawing on the micro-analytic toolbox of conversation analysis, this chapter helps us see how wellbeing can be at least partly co-constructed in everyday interactions, specifically in quality interactions. The chapter examines some of the key findings of research into quality interaction among older populations in care settings and the links made to wellbeing. It then turns its attention to everyday settings in the community, still the majority experience for older people but the minority focus of interactionally orientated research studies. Discussions of such studies are interwoven with detailed analyses of naturally occurring audio-recorded interactions in a hair salon with older clients. Wellbeing, it is argued, is partly achieved through both the immediate fulfillment offered through talk – whether laughing together or telling troubles – and the positive identities that are afforded. The wider research implications are then discussed, in particular with respect to the ways in which interviews are used and the kinds of setting that need to be studied.