--- - |2+ Abstract Objective We disentangled three growth‐relevant concepts (redemption, self‐improvement, and eudaimonic growth) in personal narratives of high, low, and turning points and tested their relations to well‐being. Method In two studies, participants (Study 1 n = 111, Study 2 n = 206; overall ages 17–83, 56% women, 75% white) wrote narratives of high points, low points, and turning points. Researchers coded each narrative for redemption sequences (i.e., affectively valenced changes in life from bad to good), self‐improvement sequences (i.e., affectively valenced changes in oneself for the better), and themes of eudaimonic growth (i.e., values or motives for cultivating meaningful activities or relationships, helping others, or wisdom). Participants also self‐reported well‐being. Results Redemption sequences in low points predicted higher well‐being but in high points predicted lower well‐being. Self‐improvement sequences and growth themes each predicted higher well‐being in each life event (and interacted in high points). Growth themes consistently mediated predicted relations between both redemption and self‐improvement sequences and well‐being. Findings held when controlling for global narrative affect, self‐reported growth motivation, and big‐five traits. Conclusions Thematic motives for eudaimonic growth were more closely tied to well‐being than were affective evaluations of either changes from bad to good (redemption) or one's becoming better (self‐improvement). - Journal of Personality, EarlyView.