Reflecting the importance of the self in optimal functioning, a vast literature on the value of different self-processes is accumulating. Individual research reports, however, frequently present a one-sided view, focusing either on the benefits or the liabilities of the self-process under study. A more complete understanding of both the benefits and liabilities of a self-process is essential because it profoundly shapes the conclusions of existing research and directions of future research. To that end, this special issue brings together leading researchers to present their unique perspectives on the benefits and liabilities of the self-process they study.