Post-presidency
When his presidency ended on March 4, 1825, James Monroe resided at Monroe Hill, what is now included in the grounds of the University of Virginia. He operated the family farm from 1788 to 1817, but sold it in the first year of his presidency to the new college. He served on the college's Board of Visitors under Jefferson and under the second rector James Madison, also a former president, almost until his death.
Monroe had racked up many debts during his years of public life. He sold off his Highland Plantation (now called Ash Lawn-Highland). It is now owned by his alma mater, the College of William and Mary, which has opened it to the public as an historic site. Throughout his life, he was not financially solvent, and his wife's poor health made matters worse.
He and his wife lived in Oak Hill, Virginia, until Elizabeth's death on September 23, 1830. In August 1825, the Monroes had received the Marquis de Lafayette and President John Quincy Adams as guests there.
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