The purpose of this study is to examine the effect of preparation for old age on the life satisfaction, and the mediating effect of productive activities on the relationship between preparation for old and life satisfaction among the old age in Korea. The subject for this study is 226 older adults who participated in the work fare program of community welfare centers. The collected data were analyzed with SPSS WIN(ver.18.0) program, and frequency analysis, descriptive analysis, multiple regression, and Sobel test were utilized. The result revealed that productive activities has a partial mediating effect between preparation for old Age and life satisfaction. Based on these findings, the theoretical and practical implications were discussed.