Upon retiring from major-league baseball, Schmidt sold his home in Pennsylvania and moved to Jupiter, Florida. He initially made some unsuccessful attempts to stay involved in the game, including commentating for Phillies games. He offered to coach the Phillies but was turned down. His attempt to invest in a baseball franchise in Miami fell through as well. His reclusive habits, formed in Philadelphia, were shed and he became a regular suburban dad. He eventually turned his focus towards raising his family, improving his golf game, and fishing. Although he has attempted to participate in Senior PGA tournaments, he has yet to qualify. Much of his competitive golfing is done on celebrity tours, including his own Mike Schmidt Celebrity Invitational.
In 2002, he returned to the Phillies team as spring-training instructor for eleven days in February. He even acted as coach for an exhibition game against the Tampa Bay Devil Rays. He told Marcus Hayes of the Knight Ridder/Tribune News Service that coaching the game was fun but "I don't know if I could take 162 of these." Instead, he's decided to take on the role of commissioner for the newly formed United States Professional Softball League.
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