This report examines midlife perceptions of African American and Caucasian women. African American and Caucasian women (aged 42 to 52) completed self-report measures of midlife perceptions, health status, and personality factors. Women had positive perceptions of themselves at midlife; few women reported interpersonal isolation or hopelessness. More optimistic women reported a more positive perception of their current identity and security at midlife. African American women reported more positive perceptions than did Caucasian women. Among those who reported more stressful life events and financial difficulty, African Americans had more positive perceptions, whereas Caucasians had more negative perceptions. Although women tend to view themselves positively at midlife, race is an important moderator of psychosocial factors that may be associated with midlife perceptions.