Frank (Bruce Willis) is retired, bored, and lonely living off of his government pension in a nondescript suburb in an equally nondescript house. The only joy in Frank's life is his calls to the government pension processing center when he gets to talk to his case worker, Sarah (Mary-Louis Parker). Sarah is as bored and lonely as Frank and marks her conversations with the unknown Frank and her spy novels as the only things fun in her life. When something in Frank's past forces him back into his old line of work and puts an unwitting Sarah in the middle of the intrigue, Frank and Sarah begin a journey into his past and the people with whom he used to work. Like Frank they are all "R.E.D." - Retired Extremely Dangerous.