This chapter looks in detail at the economic arguments for investing in measures to promote and protect the wellbeing of young people. We look at what is known about the long‐term benefits of good wellbeing, as well as the consequences of poor wellbeing, indicating the many economic impacts that been identified in studies that have followed young people for many decades into adulthood. Highly cost‐effective actions to protect psychological wellbeing, address overweight and obesity, and reduce risks from alcohol, smoking, and sexual behavior can be identified. In addition, there is compelling evidence, largely from a U.S. context, suggesting that investing in preschool educational interventions can generate positive returns on investment over the life course.