Sandy Kominsky (Michael Douglas
), a once-famous actor, now makes his living as an acting coach. He and his best friend Norman Newlander (Alan Arkin
), who works as a talent agent, but finds his job ultimately unrewarding, keep each other going as they navigate the ups and downs of getting older.
Norman's wife is on her deathbed, while his daughter is an addict whom he has to check into rehab against her will. He no longer finds joy in living. That is, until he's asked to talk to Sandy's class of aspiring actors, who want to hear what he has to say.