Henderson and his wife Eleanor have three daughters: Heather, Jennifer and Jill. The family remained in Birmingham for a time following his retirement as a player. He had an opportunity to become a colour commentator for Maple Leafs broadcasts in 1981 but Ballard, still upset that Henderson had defected to the WHA, prevented his hiring. In Birmingham, he became a stockbroker, briefly joining brokerage firm E. F. Hutton. However, he was unable to get a work permit in the United States despite a petition signed by thousands of Birmingham residents who fought for him to stay.