Schroder married in 1969, to Piffa, and though the couple are separated, they are not divorced; due to his wife's Roman Catholic beliefs. The couple have a daughter. Schroder flies his private plane and is a keen breeder of Middle White pigs on the Dunlossit Estate. Schroder has funded the Islay lifeboat and sponsored the island's Highland games, the Argyllshire Gathering. Schroder also helped restore an old whisky distillery on Islay.