Purpose in life has been found to decline from middle to later life in several ageing studies. Because the decline has negative impacts on health-related outcomes, it is important to identify factors contributing to purpose in life to enhance wellbeing among the ageing population. This study first examined the role of subjective social economic status (SSES) in the relationship between age and purpose in life. Subsequent analyses estimated whether the construct Artistic Creativity as a Source for Meaning in Life (ACASMIL) played a role in cultivating purpose in life among ageing individuals. Moreover, the analyses determined whether this effect was strengthened by creative self-concept (i.e. self-conviction about personal identity and self-efficacy in the global domain of creativity). Results from a sample of 224 individuals from middle to third age (mean age = 54.08, standard deviation = 10.08, range = 40–84) revealed that the relationship between age and purpose in life was only positive among those with relatively high SSES, controlling for gender and country of residence. Controlling for gender, country of residence, age and SSES, it was found that ACASMIL did not play a mediator role. Moreover, creative self-concept played a moderator role in the relationship between artistic creativity and ACASMIL. However, this moderation effect of creative self-concept was negative. Implications and suggestions for future directions are discussed.