What will Prince Philip do when he retires?

What's he going to do next?!

Prince Philip shocked the world on Thursday by revealing, after a high-profile secret meeting at Buckingham Palace, that he's retiring from his royal duties after 65 years of being by his wife's side.

And while a typical retirement plan for Americans includes buying a pad in a beachy Florida town (Naples, to be exact), that's not exactly in the cards for Prince Philip.

At 95 years old, the Duke of Edinburgh has more than earned the right to kick back in his La-Z-Boy and watch all the "Price Is Right" his heart desires, but don't expect him to do just that.

Before he officially retires in the fall, he'll still attend public events with and without the Queen through August -- a few months after his 96th birthday.

However, the Duke of Edinburgh won't accept new invitations to events as his schedule has already been finalized. Thursday's announcement ultimately put an end to speculation as to why the palace started turning down invites.

As Buckingham Palace also noted, Prince Philip is a member of 780-plus organizations. Once he retires in the fall, Philip will stop accepting event invites from those groups but will continue to be associated with them.

However, the palace says he'll still pop up at "certain public events from time to time." This means he'll probably make appearances alongside his wife during big events and not completely fall off the face of the earth.

The Duke of Edinburgh broke formal ties with some of his patronages when he turned 90 in 2011 and has relinquished a number of royal duties in recent years so his retirement was inevitable.

What we'll probably miss most about Prince Philip are his hilarious quips. During a lunch following his retirement announcement, the Duke couldn't help but crack a joke:

"I'm sorry to hear you're standing down," one man told him. "Well, I can't stand up much," Philip quipped.

Watch the exchange here: