While the nature of memory complaints during older adulthood has been studied extensively, the meaning of subjective memory concerns in younger adults has not been fully addressed. Using a sample of 95 younger adults, this study examined the role of personality, health, and depression in predicting objective and subjective memory. For objective memory, openness and self-rated health were unique predictors. For subjective memory ability, only self-rated health was predictive. Finally, similar to studies with older adults, neuroticism and conscientiousness were predictive of both perceived frequency of forgetting and global memory. Using subjective memory concerns as an indicator of actual memory functioning may be inappropriate given the extent to which personality traits and health predict memory concerns.