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 worst record in the history of the world". However, their singles and albums continued to sell well, until the disastrous release of the movie "Head". Nesmith's last contractual Monkees commitment was a commercial for Kool-Aid and Nerf balls, in April 1970 (fittingly, the spot ends with Nesmith frowning and saying, "Enerf's enerf!"). With the band's fortunes continuing to fall, Nesmith asked to be released from his contract, and had to pay a default: "I had three years left... at $150,000 a year", which he had to pay back. He continued to feel the financial bite for years afterward until his