Grady decides it's time for a change and moves out of Watts and into fashionable Westwood to live with his daughter, Ellie, her husband Hal, and their two children, Laurie and Haywood. As a housewarming gift, Grady purchases an oil painting to hang over their fireplace. However, the painting he chooses proves to be quite distasteful.

Lamont has been seeing Janet for quite awhile and Lamont thinks he's in love. But he doesn't know too much about her and hasn't wanted to push her into telling him. Thus, Fred decides to find out exactly what she's hiding and he goes undercover with Aunt Esther to dig up the dirt.

The diamond thieves continue their plot to have Fred smuggle the stolen diamonds into the United States. Freddy Wells sneaks into Fred's hotel room and plants the diamonds in his suitcase. Later, Lamont and Fred discover the diamonds and hesitate to call the police.

After Lamont's friend Sandra takes Fred and Lamont to an art museum, Fred finds out that he can make art out of the junk in his pile. Thus, Fred begins the creation that will convey his legacy for eternity. However, the final result is far from an artistic masterpiece and Lamont has to decide how to break the news to his proud father.

Lamont's politically involved girlfriend stresses involvement in the community's problems. This leads Lamont to phone into a radio talk show to express his views. Positive reaction leads to Lamont deciding to run for state assembly. But Fred soon finds out that this means that Lamont may move to Sacramento and leave the junk business.

Fred becomes smitten with a woman, Miss Wallace who comes to the Sanford residence looking for a place to stay at the Sanford Arms. Meanwhile, a thief has been spotted in the neighborhood and to get the reward money, Fred lets the cops set up a stakeout in his home. However, Fred is in for a shock since the thief has been in disguise as Miss Wallace.

A woman, whom Fred once had a drunken fling with, stops by and becomes convinced that Grady is Fred. Grady is in shock and Lamont is no help trying to convince her otherwise. But Grady has an even bigger problem: The woman decides to hold him to the promise Fred made - marriage.

In another get rich quick scheme, Fred decides to go down to an escort service with a friend of his and try to apply as escorts. Flatly rejected, Fred decides to open his own escort service complete with false advertising which results in Fred having to escort three ladies in one night.

Three jewel thieves try and find a way to smuggle some expensive diamonds from Hawaii to L.A. That is where Fred and Lamont come in. Fred goes to Hawaii to attend a Junkmen of America convention. The crooks then plan to sneak the jewels on Fred so that he can take them to L.A. without knowing anything about it.

Fred and Lamont have been busy planting a small garden in their yard when suddenly a professor stumbles in and suggests that they may be sitting on some oil. Later, Fred plants his scarecrow in the garden and actually strikes some oil. This leads to Fred and Lamont to ponder the fact that they may soon be millionaires.

Lamont's mother-in-law to be is coming to Watts for a visit and Fred is a little concerned about what she's going to think of a common junk man. This leads Fred to decide to create a legacy and tries to set a world's record and get his name in the Guinness Book of World Records. His goal is to be the person to stay awake the longest.

Fred makes a deal and buys a horse with a great racing history. Fred tries to get the animal to breed so that he can have a lot of money making champions hoofing and stomping around the place. However, there is just one problem Fred must overcome, the horse he bought is a gelding, which has Lamont saying "I told you so" to yet another one of Fred's moneymaking schemes.

Fred's friend, Yerby is the manager of a champion boxer, Junior Joe Louis. Fred goes in and buys half ownership. Fred then begins training the boxer for an upcoming fight but soon runs into trouble. For Junior is pulled from the fight because of to Fred's stubbornness.

Lamont has had a chronic headache for three days and isn't sure what's causing it. A doctor suggests that Lamont consult a psychiatrist since the cause may be stress. Once at the psychiatrist's office, the doctor determines that Fred is the cause of Lamont's headaches.

The Sanford home has become a campaign headquarters for the candidate Bob Williams and Fred wants nothing to do with it. However, once Fred discovers, Della Reese is working on the campaign of Williams' opponent, he goes all out for it even thought he's not for the candidate.

Fred is being honored with the Watts Businessman-of-the-Year Award and he's all hyped up about accepting it. However, an unexpected turn of events lands Fred with a serious back problem and takes up means to try to get rid of it, including, acupuncture, meditation and a corset.

While Fred is babysitting his soon-to-be grandson, Roger helps a customer and sells him some junk including three medals. After Fred learns of Roger's sale he envisions a story about just how he got those medals. Fred's story has him as a Patton like character fighting during World War II and battling espionage.

Fred and Lamont go on a camping trip in the wilderness but Fred quickly gets sick of the great outdoors and demands that they return home. However, they quickly realize that they are stranded when the truck refuses to start. This leads father and son to reminisce about times they have spent together. Fred and Lamont recall scenes from previous episodes including: My Kingdom for a Horse, Earthquake II and The Engagement Man Always Rings Twice

During a mishap at the airport Fred accidentally misplaces the suitcase with the diamonds and the crooks start chasing Lamont and him all over Hawaii, trying to get them back. Meanwhile, the cops close on in, but not before guns are drawn on Fred and Lamont as the crooks trap them on a boat.

Lamont runs into Chuck Barris in a parking lot and he generously gives Lamont four tickets to a taping of The Gong Show, which happens to be Fred's favorite game show. Fred decides to try to be a contestant and sets up an act with his brother-in-law, Rodney and Lamont. However, at the last minute, Rodney hurts his back and can't be in the act.

The Sanford residence is in chaos and it is all due to Fred's sudden loss of hearing. Lamont is convinced Fred has a problem, but Fred denies it but Lamont takes him to a doctor just the same. However, after the doctor removes the wax build up, Fred decides to stay "deaf" just a little bit longer in an attempt to hold Donna's attention.

Fred meets a young woman and he quickly announces to Lamont that he has proposed to her. However, Lamont is in for a big surprise when he meets Fred's fiancee who just happens to be Lamont's old flame, whom he would like to marry himself.

Fred has a romantic night planned with Donna but Aunt Esther drops in at the last moment with some news, her neice, Elizabeth is in town and she wants Fred to have her stay with him. Fred is against the idea at first but when he takes one look at her he agrees, she is the spitting image of his late-wife, Elizabeth. However, there is another problem, Elizabeth is planning to move into an apartment in town and she will have two roommates, one female and the other male.

Donna receives a marriage proposal from another man and she decides to base her answer on whether or not Fred is ever going to ask her. Fred must make the choice now as to whether or not he is going to marry Donna. This leads Fred into turmoil and leads him to ask Elizabeth a heart felt question on whether or not she would object to him remarrying.

Lamont has been saving for acting school and has just enough money. Meanwhile, Fred sees a commercial for a get rich quick scheme and decides to give it a try. Thus, he invests Lamont's money in a supply of Whopper Choppers that he must try to sell. However, selling them is the hard part.