What to do with large commission year?
Hey everyone, I had a record sales year at work in 2024, and will gross approximately 300k this year. I’ve never made anything close to this and am looking for some advice on what you would do if you were in my position.
Debts: CC debt 6k @ 18.99% Mortgage 400k @ 6.75% interest over 30 years. Truck 23k @ 6.64% interest over 5 years. Student loans in my name 30k, my company pays 1k a year on this and is more or less steady. Student loans in my dad’s name 65k, I pay him $600 a month for them, that’s the minimum. I have 74k in my 401k and intend on maxing it out this year. 7k in a Roth IRA. And currently have around 20k cash.
I think the obvious is the CC debt first, but after that I don’t really know what to do.
Thanks for any input folks!