Advertise on podcast: Five Minute Finance

Your tax deadline is April 15, right? Not exactly. Matt and I walk through three different “doors” that close at three different times, and the first one may be hiding in your Q4 paychecks. We get into what to check now if you want to max out your 401(k), why late-year withholding can be surprisingly useful if a bonus, RSUs, or capital gains knocked your tax payments off course, and which moves really do need to be finished before December 31. Then there’s the good-news door: a few 2026 contributions can still happen in 2027. The goal here is not to give you more year-end stress. It's to keep you from discovering a deadline after it’s already passed. Find out more about Mike at https://www.mortonfinancialadvice.com and connect at https://www.linkedin.com/in/mwsmorton/

AI feels private, but how much of your financial life should you actually put into a chatbot? Matt and I look at the line between useful context and oversharing, including the information I would keep out of an AI prompt, how privacy settings differ across consumer and business tools, and why anonymizing your question can still get you a strong answer. We also get into the bigger financial risk: AI can sound completely confident even when you forgot to give it the one fact that changes the recommendation. I’ll show you how I use AI as a research assistant, when I stop trusting the chatbot to make the call, and the simple question to ask before a real financial decision leaves the screen and hits your account. Find out more about Mike at https://www.mortonfinancialadvice.com and connect at https://www.linkedin.com/in/mwsmorton/

Free $1,000 for your child sounds like an easy yes. But should you put another $5,000 into a Trump Account, or would that money work harder somewhere else? Matt and I break down who gets the free money, what these new accounts can and can’t do, and where they belong alongside your retirement savings, 529s and Roth IRAs. Plus, I share a tax strategy that could turn a decent benefit today into a much bigger opportunity for your child later. Find out more about Mike at https://www.mortonfinancialadvice.com and connect at https://www.linkedin.com/in/mwsmorton/

An LLC and an S corp are not the same thing, and confusing the two can leave you paying for complexity you don't need. Join me and Matt this week as we break down what an LLC actually protects, why it doesn't automatically save you money on taxes, how an S corp election works, and the surprisingly complicated math behind those promised tax savings. We also walk through the roughly $100,000 profit threshold where an S corp becomes worth investigating, the QBI and Solo 401(k) gotchas that can change the calculation, and a simple way to figure out whether your business has actually reached the point where any of this is worth your time. Find out more about Mike at https://www.mortonfinancialadvice.com and connect at https://www.linkedin.com/in/mwsmorton/

Everyone told you to keep three to six months of expenses in cash. That number hasn't aged well. This week Matt and I break down why the old rule is broken, the two-pile system that stops you from lying to yourself about what's actually an emergency, and the floor times runway formula I use instead of a flat multiplier. We also get into where that money should actually live once your portfolio grows, and why, in this AI-era job market, your runway might need to be a lot longer than you think. If you've got cash sitting around and you're not sure whether it's too much, too little, or in the wrong place, this one's for you. Find out more about Mike at https://www.mortonfinancialadvice.com and connect at https://www.linkedin.com/in/mwsmorton/

Artificial intelligence is making it easier than ever to do things yourself—but that doesn't always mean you should. Join me and Matt Robison this week as we explore the hidden opportunity cost of AI, why "saving money" can sometimes cost you hours of valuable time, and how to decide which tasks are worth outsourcing versus handling yourself. You'll also learn practical strategies for avoiding AI rabbit holes, evaluating the true value of your time, and using AI as a tool rather than letting it become another item on your ever-growing to-do list. Find out more about Mike at https://www.mortonfinancialadvice.com and connect at https://www.linkedin.com/in/mwsmorton/

A child's first summer job can become far more valuable than a paycheck when paired with a Roth IRA. Join us this week to learn who qualifies, how custodial Roth IRAs work, contribution limits for 2026, why parents can fund the account even if kids spend their earnings, and how decades of tax-free compounding can turn relatively small contributions into life-changing retirement savings. It also covers documentation requirements, options for younger children, and practical ways to use the account as a financial education tool. Find out more about Mike at https://www.mortonfinancialadvice.com and connect at https://www.linkedin.com/in/mwsmorton/

The wealthy don't avoid taxes because they have secret tricks—they operate under a completely different financial framework built around ownership rather than income. Would the "Buy, Borrow, Die" strategy work for you? No, probably not. Learn why most people can't replicate it, and the practical lessons everyday investors can apply to build wealth more tax-efficiently. Shifting from earning to owning can change your long-term financial trajectory, join me and Matt to learn how! Find out more about Mike at https://www.mortonfinancialadvice.com and connect at https://www.linkedin.com/in/mwsmorton/

Delaying Social Security is often one of the most valuable retirement decisions you can make. Want to learn why Social Security should be viewed as longevity insurance rather than a savings account? This episode is for you. Matt and I will also discuss how delaying benefits increases guaranteed income, why break-even calculations can be misleading, and the often-overlooked psychological benefits of guaranteed retirement income. We’ll cover situations where claiming earlier may make sense and offer a practical framework for making a retirement decision that balances both financial optimization and peace of mind. Find out more about Mike at https://www.mortonfinancialadvice.com and connect at https://www.linkedin.com/in/mwsmorton/

Most people don’t need another side hustle; they need a smarter framework for building financial flexibility. This week, Matt and I explore the difference between true passive income and expensive distractions, including equity compensation, rental real estate, angel investing, and the hidden cost of time and energy. Find out more about Mike at https://www.mortonfinancialadvice.com and connect at https://www.linkedin.com/in/mwsmorton/

AI promises efficiency, but what if the real effect is simply raising expectations rather than freeing time? Join Matt and I for this first ever BONUS Five Minute Finance that riffs off our latest episode about AI. Why do productivity gains often disappear? How does convenience change our standards? Where does AI help versus where could it be quietly weakening creativity, judgment, and long-term skill development? Find out more about Mike at https://www.mortonfinancialadvice.com and connect at https://www.linkedin.com/in/mwsmorton/

AI is changing how people approach personal finance, but the smartest use isn’t asking it to make decisions; it’s using it to surface ideas, explain strategies, and help you ask better questions faster. Join Matt and me this week as we discuss where AI genuinely adds value, where it can confidently lead you astray, and why human judgment still matters most when real money is on the line. Find out more about Mike at https://www.mortonfinancialadvice.com and connect at https://www.linkedin.com/in/mwsmorton/

After 200 episodes, the biggest financial lesson is that success comes from structure—not complexity. Mike Morton and Matt Robison look back on the top ten most popular episodes in the past five years and revisit the things that matter most to you: taxes, optimization, family and legacy, and the emotional side of money. Top Ten Most Listened to Episodes of Five Minute Finance:Masterclass: EFT vs. Mutual Funds Part 1; Part 2How to use your After Tax 401k Contributions Clean Backdoor RothRoth IRA for MinorsTraditional 401k vs. Roth 401k: Which is truly better?Permission to SpendHow to maximize employee benefitsTraditional or Roth: Choose the right 401kTop Five Brilliant Money HacksHSA’s: Healthy Retirement Savings Find out more about Mike at https://www.mortonfinancialadvice.com and connect at https://www.linkedin.com/in/mwsmorton/

Most people think doing their taxes correctly is enough—but the real opportunity lies in planning ahead. Join CFP® Mike Morton and Matt Robison as they break down the critical difference between tax preparation and tax strategy, showing how high earners can reduce surprise tax bills by understanding their marginal tax rate, coordinating multiple income sources, and making smarter year-round decisions. Find out more about Mike at https://www.mortonfinancialadvice.com and connect at https://www.linkedin.com/in/mwsmorton/

High earners often feel like they’re living paycheck to paycheck, but the real issue isn’t income—it’s visibility and alignment. As earnings increase, so do expenses and expectations, while savings happen quietly in the background, making progress feel invisible. Join Matt Robison and Mike Morton as they break down why this happens, how to tell if it’s actually a problem, and what to do to ensure your spending, saving, and lifestyle are working together—not against you. Find out more about Mike at https://www.mortonfinancialadvice.com and connect at https://www.linkedin.com/in/mwsmorton/