MacGyver returns from a trip to Central America to steal a computer disk holding valuable evidence against a major drug lord. To get it, he had to infiltrate a temple controlled by local natives and was almost killed three times. As a weary MacGyver goes to his apartment to clean up, a machete-wielding intruder comes in, ambushes him, and demands the disk. MacGyver bluffs and says he doesn't have it, so the intruder takes him to the Phoenix Foundation to get it. However, upon arriving there, Pete and MacGyver's friends surprise him with a birthday party. MacGyver's captor removes his disguise to reveal that he's Jack Dalton. Pete admits that MacGyver would never have come if he'd told the truth, so he left it up to Jack to get MacGyver there.
Among the people at the party are Harry, MacGyver's grandfather. MacGyver turns over the computer disk to Pete, who tells him his friends who couldn't make it sent some mementos. MacGyver goes after Jack but they're interrupted when Penny Parker comes over and gives MacGyver a birthday kiss. Jack is impressed and starts flirting with her, and she talks about how she met MacGyver in Bulgaria. MacGyver leaves them and Penny notices that he seems depressed.
As MacGyver goes over the mementos, he remembers how many of them involved missions where he was almost killed. He checks in with Pete, who is reviewing the evidence with Craig Bannister. Craig wishes him well and leaves, and MacGyver admits that he's worried that his luck has finally run out. He tells Pete that he wants to resign. Pete doesn't believe it, insisting MacGyver lives on action and would get bored behind a desk. When he wonders what his friend has planned, MacGyver tells him he plans to go back to Minnesota, get married and raise a family. He asks Pete to prepare a resignation letter for him.
Jack is busy pretending to be a producer and promising to advance Penny's career. He also talks about how he rescued MacGyver from certain death during a horse-stealing incident. Meanwhile, MacGyver notices photojournalist Kate Connolly, who he rescued from an arms dealer in Central America. He goes over to see her and discovers that she's pregnant. Kate tells him he's responsible for the baby... then introduces MacGyver to her husband Mike Desmond. She explains that after she returned from Central America, she was assigned to an editor's desk and met Mike, a linebacker. The two got married and are having a child. MacGyver offers his congratulations, and Kate admits that she got tired of bouncing around the world and decided to settle down. MacGyver considers what she's saying.
MacGyver finds a can of brake fluid among the mementos and looks over at Craig Bannister, who he helped in East Germany when their car went out of control. Pete reluctantly gives his friend the resignation letter and MacGyver goes into Pete's office to consider it. Harry comes in and offers some advice: go with your gut. Once he leaves, MacGyver signs the papers.
Penny finally tells Jack that she knows all about him and how his eye twitches when he lies. MacGyver comes out and gives Pete the letter. Pete agrees to accept his friend's decision, but reminds him of the time he escaped from East Germany in a coffin and reunited a family in the process. He then offers a toast and says that he'll miss sharing his life with MacGyver.
Jack brings in the birthday cake and everyone wants MacGyver to give a speech. He's reminded of what Harry once said about how a man's life is as important as the people he shared it with. He admits that all of them together have reminded him of how he wouldn't have met them if it wasn't for his life of adventure, and his life is truly blessed. As everyone starts eating the cake, MacGyver asks for the resignation letter back from Pete, and then tears it up.
As the party dies down, MacGyver finds the flare gun that he used to rescue Captain Jim Taylor in Asia, and remembers how he got the downed airman out of a jam. Pete comes over and MacGyver jokingly asks if he can tape the resignation letter back together.