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 fictitious role of the father of the Mayor of Portland, Oregon. In 2018, he announced that he would be doing a 5-date tour of California with a revamped version of "The First National Band" including a date at the legendary Troubadour, where he performed Pre-Monkees. On February 20, a tour was announced as "The Monkees Present: The Mike and Micky Show", their first tour as a duo. The pair will play Monkees music and promote the tour under the Monkees banner, but Nesmith stated that "there's no pretense there about Micky and I being the Monkees. We're not."