Numerous laboratory studies suggest that engaging in prosocial action predicts greater psychological well-being, yet little work has examined whether kids (aged 5–12) experience these benefits in real-world community settings. In Study 1, we surveyed 24/25 students who completed their entire Grade 6 curriculum in a long-term care home alongside residents called “Elders.” We found that the meaning that kids derived from interacting with the Elders strongly predicted greater psychological well-being. In Study 2, we conducted a pre-registered field experiment with 238 kids who were randomly assigned to package essential items for disadvantaged children who were either demographically similar or dissimilar to them. Kids self-reported their happiness both pre- and post-intervention. While happiness increased from pre- to post-intervention, this change did not differ for kids who helped a similar or dissimilar recipient. These studies offer real-world evidence that engaging in prosocial action—over an afternoon or year—may enhance kids’ psychological well-being.