Bonnie Tyler & the 75 Summers Rule — Prince, Aretha, MJ Lessons

Good morning. Welcome to the One of a Kind Financial Show Daily. I'm Mike Milligan, Certified Financial Planning Professional. It's Friday, July 10th, 2026. Bonnie Tyler is gone. Total Eclipse of the Heart, Holding Out for a Hero, the soundtrack of my middle school dances, my high school prom, silence this week. She was 75 years old. Today we talk about her. We talk about 3 other music legends whose deaths Taught us financial planning lessons the hard way. We recap the market, we look at what closes out the week, and we update three stories from earlier this week on this show. Educate, coach, plan—that's my mission. Never miss a moment. It's how I live. Let's go. Be one of a kind with Mike's Plan. Bonnie Tyler died Wednesday night in a hospital in Faro, Portugal. She was 75 years old. The Welsh singer with the husky voice, born Graener Hopkins in a small mining town in Wales in 1951, had been in the hospital since May after emergency intestinal surgery. Her family announced her passing yesterday morning. Total Eclipse of the Heart, released in February of 1983, spent 4 weeks at number 1 on the Billboard Hot 100. It was number 1 in the UK, more than 13 million copies sold, over 1 billion streams on Spotify. I danced to Total Eclipse of the Heart in a middle school gymnasium at Carver Middle School in Laurel Hill, North Carolina. I danced to it again at a high school prom at Scotland High School in Laurinburg. And then years later, Holding Out for a Hero came roaring back into my life. Through the Shrek movies, because that was the soundtrack of my family room. There was Zach Grayson Page on the couch, popcorn everywhere, Bonnie Tyler belting through the TV speakers while Fiona kicked bad guys. Same voice, 2 entirely different chapters of my life. That is the thing about a great artist. They score more than one season of your story. And when I heard the news yesterday, here's what hit me. And I want you to sit with this for a second. The problem is that we think we have plenty of time. But if you are like Bonnie, you only have 75 summers. 75 summers, not 75 years, summers. Because summers like we are in now, are what you remember. The summers are with the kids in the pool, the summers on the boat, the summers you took the road trip and the summers you didn't, the summers where the concerts were outside and the fireworks lit up the sky and somebody grabbed your hand. If you're 40 years old, you have maybe 35 summers left. If you're 55, maybe 20. If you're 65, maybe 10. That's why we plan, not to be right about the stock market, to be free enough to spend those summers the way we want to spend them. Rest in peace, Bonnie.

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Bonnie Tyler's music will live on. That's a real legacy. Now let's talk about 3 other music icons who left this world and left estate lessons that cost their families tens or hundreds of millions of dollars. This is educational only, but it's a lesson that must be taught. Prince. Dearly beloved, we are gathered here today to get through this thing called life. He wrote that in 1984. He was 25 years old. 32 years later, on April 21st, 2016, he was gone at the age of 57. No will, no written— nothing written down. His $156 million estate went into probate for 6 years. Legal fees, tax fights, IRS valuation battles, 6 siblings and half-siblings fighting. Each other. His heirs didn't receive a distribution until August of 2022, more than 6 years after he died. Lesson 1 today: if there's no plan, the state writes one for you, and you will not like it. Aretha Franklin. You better think, think about what you're trying to do to me. The Queen of Soul died August 16th, 2018. Her family thought she had died without a will. Then in 2019, 3 handwritten wills were found in her home, one under a couch cushion. Those are called holographic wills, by the way. A jury in Potomac, Michigan ruled in 2023 that a 2014 handwritten will was valid, overturning an earlier 2010 will. Years of court battles, siblings on opposite sides of the courtroom, millions in court and legal fees. Lesson 2, a written document is only as good as where it is kept and who knows about it. A napkin under a couch cushion is not a plan. Lesson 3 is Michael Jackson. It doesn't matter if if you're black or white. He sold 750 million records in his lifetime, died June 25th, 2009. He did have a trust and a will, and yet the estate is reportedly still open after more than 15 years. A years-long IRS valuation dispute, largely resolved in the estate's favor in 2021, dragged the proceedings out. The trust that was meant for his children reportedly has never been fully funded. To this day. Lesson 3, even a good plan needs to be executed, funded, and updated. A plan on paper is not the same as a plan in motion. 3 legends, 3 cautionary tales. None of them wanted their families in court for a decade. None of them planned for it either. That is the point. Every year at One Oak Financial, we ask our clients 4 questions. Do you have a will? Do you have a trust? Are your beneficiaries updated on every account? Does your family know where the documents are and who to call? Those 4 questions cost you nothing. Not asking them, though, costs your family everything.

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Thursday's close on the market. The Dow up 139, finishing at 52,487. The S&P up 60, almost 61 points to 7,543. The NASDAQ Composite rose 336 to 26,206. And for the day, oil finished off where, um, Brent oil was at 76.51. Wednesday's Middle East escalation caused the market to go down, oil prices to go up, and we saw a recovery in the stock market on Thursday with oil still higher. PepsiCo reported yesterday morning, Thursday, July 9th, before the bell. They confirmed that the date back on June 4th, so this was on the calendar, earnings came in at $2.20 a share. One penny shy of analyst estimate at $2.21. Revenue slightly beat. And here's the read-through though. Pepsi said explicitly that North American food and beverage demand moderated as consumer budgets tightened due in part to rising gas prices. So those midday stops to get gas in your car did not result in walk-ins to the 7-Eleven or the Circle Ks around the United States to buy that extra Gas prices are high, in fact, hurt the consumers. That's the exact consumer stress signal I've been talking about all week. FHA delinquencies at 11.88%, subprime auto at a 32-year high on delinquencies, and now PepsiCo confirming the consumer is pulling back at the register. When Frito-Lay slows down, the country is slowing down too, and that matters. Delta Airlines reports on Friday. Wall Street's looking for $1.49 a share on about $17.55 billion in revenue. Here's what makes Delta the read for the whole summer. Back in April, Delta guided Q2 to $1 to $1.50 a share, well below the $2.09 the Street had been looking for at the time, because CEO Ed Bastian called jet fuel spikes tied to Middle East unprecedented. So the question when they report is not just did they hit the number? The question is, What did they say? What are they going to say about July, August, and Labor Day bookings? If Delta is trimming forward, the consumer is trimming forward. Peak travel season is right now. Let's watch that tape. And in sports news, today in the World Cup at SoFi Stadium in Inglewood, California, Spain versus Belgium with a chance to move on to face France in the semifinals. On Saturday, 2 quarterfinals, Norway versus England, Who is ready for the beat of the drum and the rowers in unison at Norway? That's going to be at Hard Rock Stadium in Miami. And then finally, to end the night on Saturday at Arrowhead Stadium in Kansas City, Argentina and Messi versus Switzerland. By Saturday night, the Final Four is set. The storylines— will this be it for Messi and World Cup? Will Norway row their way on into the semifinals? Who is going to have the chance to face the powerful France team in the semifinals? Next week, next Tuesday, the big banks are going to report on Wall Street. JP Morgan City, Wells Fargo, Goldman Sachs. Wednesday, Bank of America and Morgan Stanley. Whether— we're going to find out whether the first half rally was earned or borrowed. The banks are going to tell us starting next Tuesday. We do not chase returns. We build a plan.

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3 updates on stories we opened this week With update number one, the Fed. Yesterday's FOMC minutes confirmed what Chair Walsh called a family fight. The committee is split. Half see rates staying flat or drifting slightly lower by year end. Half see one hike. The minutes explicitly cited the Strait of Hormuz disruption as an upside inflation risk. That means what happens in the Persian Gulf now directly influences what happens with your credit cards, your bank savings, And mortgage rates going forward for the rest of the year. Our second update is on Iran. The situation is unresolved. Overnight strikes in both directions. Trump at the NATO summit called the ceasefire over. Iran's Revolutionary Guards targeted U.S. bases in Bahrain and Kuwait. The Treasury Department revoked Iran's global oil export authorization, and Brent and West Texas oil is up. This story's not over. Watch this weekend for what happens. And then update number 3, the quarterfinal started today, and as I mentioned earlier, France beat Morocco 2-0. Mbappé missed the first half penalty, then France broke through in the second half. France is going to advance into the semifinals. This tournament is moving fast, folks. Semifinals are going to happen the end of next week with the finals coming soon. Who you got? As the final drama in the World Cup unfolds.

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And to close today, Bonnie sang, Once upon a time I was falling in love, but now I'm only falling apart. That song aged so many of us, and now she's gone and we are still here. And we still have summers left. We may only have some 75 summers with many of those in the past. Call the family, book the trip, play that song louder, dance in the kitchen. Never miss a moment. This has been the One of a Kind Financial Show Daily. I'm Mike Milligan, Certified Financial Planning Professional, founder of One Oak Financial, author of The One of a Kind Financial Plan found on Amazon, host of the One of a Kind Financial Show. At www.onoakeradio.com and podcast host to not only this podcast, but the Ideas by Mike podcast. This has been for educational purposes only. It's not investment advice, not a recommendation to buy or sell any specific security. Past performance is not indicative of future results. Please consult your own licensed professional before making any financial decisions. I am an investment advisory representative with Advisory Alpha LLC. Ideas by Mike, doing business as One Oak Financial, and One Oak Puerto Rico, doing business as One Oak Wealth, and Mike Milligan LLC, doing business as One Oak Collective, are affiliated entities of Advisory Alpha LLC. Tomorrow, special report starts, Reckless Abandonment. It launches on YouTube tomorrow, our weekend series on AI and its impact on you, your money, The environment and our future.

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