Subjective theories of wellbeing place authority concerning what benefits a person with that person herself, or limit wellbeing to psychological states. But how well off we are seems to depend on two different concerns, how well we are doing and how well things are going for us. I argue that two powerful subjective theories fail to adequately account for this and that principled arguments favoring subjectivism are unsound and poorly motivated. In the absence of more compelling evidence that how things (...) go for us cannot directly constitute our wellbeing, I conclude that wellbeing is objective. (shrink)