During the 1980s Argüello briefly fought with the Contras in his native Nicaragua, but after a few months in the jungle he retired from the war. He then attempted several comebacks into boxing during the late 1980s and early 1990s and had some success, most notably a fourth round stoppage of former World Junior Welterweight Champion Billy Costello in a 1986 televised bout that put him in a position for another shot at the Junior Welterweight title. He retired for good in 1995 with a record of 82 wins, 8 losses, and 65 KO's, along with the recognition of being one of the sports most universally respected fighters among fans, experts, and boxers.