Revision with unchanged content. Reports consistently indicate that baby
boomers are unprepared for retire-ment, a potentially long phase of
life. Many studies have targeted finan-cial planning to the exclusion of
other important aspects of retirement planning, namely, the concomitant
psychosocial factors. Accordingly, this study exa-mined retirement
planning in the following five key areas: general, financial, work,
health, and lifestyle. Specifically, this study's primary purpose was to
examine the relationship between both role clarity and internal locus of
control and past, current, and future retirement planning. Secondary
pur-poses were to examine: a) the relationship between internal locus of
control and role clarity; b) the relationship between internal locus of
control and past retirement planning; c) the effect of past retirement
planning on current and future retirement planning; and d) the effect of
past retirement planning on role clarity. The study also examined the
influence of personal background factors on past, current, and future
retirement planning and on internal locus of control. Multivariate
analyses highlight the role of past retirement plan-ning and indicate
the importance of funding, implementing, and main-taining retirement
education programs to engage baby boomers in retire-ment plan-ning.
