The Monkees most lucrative venture the three had ever seen in their days as the Monkees, far surpassing the money they had made in the 1960s. Nesmith had little financial need to join in Monkees-related projects, mostly as his mother Bette Nesmith Graham was the inventor of Liquid Paper, leaving Nesmith an inheritance of over $25 million upon her death in 1980. A new album by the touring trio, "Pool It!" (the Monkees' tenth), appeared the following year and was a moderate success. From 1986 to 1989, the Monkees would conduct major concert tours in the United States, Australia, Japan, and Europe.
Michael Nesmith in the Air Force, Nesmith obtained a G.E.D. and was discharged under honorable conditions in 1962. He enrolled in San Antonio College, a community college, where he met John Kuehne (later to be known as John London) and began a musical collaboration. The duo won the first San Antonio College talent award, performing a mixture of standard folk songs and a few of Nesmith's original songs. While in college, Nesmith began to write more songs and poetry and after moving to Los Angeles, Nesmith began singing in folk clubs around the city and had one notable job as the "Hootmaster"