Upon leaving the presidency, Truman returned to Independence, Missouri, to live at the Wallace home he and Bess had shared for years with her mother.
He taught occasional courses at universities, including Yale, where he was a Chubb Fellow visiting lecturer in 1958.
In 1962, Truman was a visiting lecturer at Canisius College.
As a former president, Truman decided that he did not wish to be on any corporate payroll, believing that taking advantage of such financial opportunities would diminish the integrity of the nation's highest office.
He also turned down numerous offers for commercial endorsements.
Since his earlier business ventures had proved unsuccessful, he had no personal savings.

As a result, he faced financial challenges.
Once Truman left the White House, his only income was his old army pension: $112.56 per month (equivalent to $1,076 in 2019).
Former members of Congress and the federal courts received a federal retirement package; President Truman himself ensured that former servants of the executive branch of government received similar support.
In 1953, however, there was no such benefit package for former presidents, and he received no pension for his Senate service.

Truman took out a personal loan from a Missouri bank shortly after leaving office, and then found a lucrative book deal for his memoirs.
For the memoirs, Truman received a flat payment of $670,000, and had to pay two-thirds of that in tax; he calculated he got $37,000 after he paid his assistants.
However, the memoirs were a commercial and critical success.
They were published in two volumes: Memoirs by Harry S. Truman: Year of Decisions (1955) and Memoirs by Harry S. Truman: Years of Trial and Hope (1956).

The former president told House Majority Leader John McCormack in 1957, "Had it not been for the fact that I was able to sell some property that my brother, sister, and I inherited from our mother, I would practically be on relief, but with the sale of that property I am not financially embarrassed."
The following year, Congress passed the Former Presidents Act, offering a $25,000 yearly pension to each former president, and it is likely that Truman's financial status played a role in the law's enactment.
The only other living former president at the time, Herbert Hoover, also took the pension, even though he did not need the money; reportedly, he did so to avoid embarrassing Truman.
Upon leaving the presidency, Truman returned to Independence, Missouri, to live at the Wallace home he and Bess had shared for years with her mother. He taught occasional courses at universities, including Yale, where he was a Chubb Fellow visiting lecturer in 1958. In 1962, Truman was a visiting lecturer at Canisius College. As a former president, Truman decided that he did not wish to be on any corporate payroll, believing that taking advantage of such financial opportunities would diminish the integrity of the nation's highest office. He also turned down numerous offers for commercial endorsements. Since his earlier business ventures had proved unsuccessful, he had no personal savings.
As a result, he faced financial challenges. Once Truman left the White House, his only income was his old army pension: $112.56 per month (equivalent to $1,076 in 2019). Former members of Congress and the federal courts received a federal retirement package; President Truman himself ensured that former servants of the executive branch of government received similar support. In 1953, however, there was no such benefit package for former presidents, and he received no pension for his Senate service.
Truman took out a personal loan from a Missouri bank shortly after leaving office, and then found a lucrative book deal for his memoirs. For the memoirs, Truman received a flat payment of $670,000, and had to pay two-thirds of that in tax; he calculated he got $37,000 after he paid his assistants. However, the memoirs were a commercial and critical success. They were published in two volumes: Memoirs by Harry S. Truman: Year of Decisions (1955) and Memoirs by Harry S. Truman: Years of Trial and Hope (1956).
The former president told House Majority Leader John McCormack in 1957, "Had it not been for the fact that I was able to sell some property that my brother, sister, and I inherited from our mother, I would practically be on relief, but with the sale of that property I am not financially embarrassed." The following year, Congress passed the Former Presidents Act, offering a $25,000 yearly pension to each former president, and it is likely that Truman's financial status played a role in the law's enactment. The only other living former president at the time, Herbert Hoover, also took the pension, even though he did not need the money; reportedly, he did so to avoid embarrassing Truman.
Harry S. Truman