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Innov Aging
Innov Aging
innovateage
Innovation in Aging
2399-5300 Oxford University Press US 

10.1093/geroni/igaa057.118
igaa057.118
Abstracts
Session 2824 (Paper)
Civic Engagement | Volunteering | Successful Aging
AcademicSubjects/SOC02600
Retirement Planning: Reimagined and Revamped for Successful Aging
Nagaich Rajiv 1 Redfield Carol 2 Harvill Ben 1 Schill Scott 1 1 
Aging Options, Federal Way, Washington, United States
2 
Aging Options, Seattle, Washington, United States
2020 
16 12 2020 
16 12 2020 
4 Suppl 1 Program Abstracts from The GSA 2020 Annual Scientific Meeting “Turning 75: Why Age Matters”36 36
© The Author(s) 2020. Published by Oxford University Press on behalf of The Gerontological Society of America.2020This is an Open Access article distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted reuse, distribution, and reproduction in any medium, provided the original work is properly cited.Abstract
What grade should current retirement planning programs receive in which thousands of Americans participated in for their third segment of life? If success is measured by basic goal achievements that most desire (i.e. financial security, not be a burden, and avoiding institutional living), then we have failed significantly. Ninety percent of the population want to age in their own home, yet, only 30% get to. Sixty-six percent report that their employers did “nothing” to help with retirement transition; another 16% state “not sure” to what employers actually did. Seventy percent will travel through Long Term Care services in their lifetime, yet only 8% have LTC insurance. Only one-fourth of Baby Boomers are confident that they will have enough money to last through retirement. Retirement contribution starts with the first paycheck followed by 3-4 decades of employment with possible access to retirement preparedness counsel. Why, then, has planning fall short of being adequate? Are individuals too trusting of the programs from their employers or financial advisors that they don’t question completeness? Are professionals practicing in siloed spaces that they fail to realize their services may impact client’s other areas of life, especially, last years of life? Why is there a lack in a multi-disciplinary team approach which can ensure better predictability of outcomes? We propose a multi-pronged, integrated program: LifePlanning Model, which includes a coordinated, multi-disciplinary approach with a pull-it-together focus for the emerging retiree. The wholistic-based framework guides people through issues in the health, housing, financial, legal and family domains.