The purpose of this explorative study was to trace the career experiences, problems, and issues of school principals in late-career stage, the place given to this stage in the principal's career cycle, and the way by which late career is interpreted in principals' life accounts. Based on life story interviews with twelve male and female principals over the age 55, five major issues in late career have been identified: enchantment and creativity; a sense of larger professional competence; change initiation and implementation; participative and considerate leadership; and changing to focus on other life spheres. Comparisons with past research on principals' career stages and practical implications are suggested.