After Gandalf had finished his work in Middle Earth and sailed west, he got involved in some rather poor real estate deals and lost his socks (see above).  He currently lives in a house with an upside-down mortgage in Vista, CA.  His latest plan for remaining solvent involves breaking into the professional Santa circuit, although his wizardly metabolism seems to make it difficult for him to develop the necessary physique.  If you see him, wish him the best (just don't mention the Shire).