Struggling to be debt free

  Happy New Year Everyone! I made my first IRA contribution of 2026! I put $1,750 into my traditional IRA and then converted it to a roth contribution.   For  2026 , single filers must have a modified adjusted gross income of  less than  $153,000  to make a full contribution directly to a roth IRA. The ability to contribute directly to a roth phases out at $168,000 for single filers.  My salary is $175,000 so I expect to exceed the MAGI limits for direct contributions for a Roth in 2026. So, I utilize a back door roth contribution. I contribute to a traditional IRA with after tax dollars and then convert the contribution to a roth contribution. This conversion is tax free.  The maximum contribution to an IRA this year, for people under 50, is $7,500. Only $5,750 to go!  Have you started your ira contributions for 2026? How much do you have left to contribute? 

  My firm gives year-end bonuses based on hours billed. My bonus, after taxes, was just under $12,000. It was $18,000 pre-tax.  Here's how I split up the money:  1. $1,500 to gift/donate  2. $3,000 extra payment to the mortgage  3. $2,500 saved to set up CD laddering 4. $1,000 to savings account  5. $3,000 to spend on improvements at my mom's house (she needs a new hot water heater and that will likely be her birthday present from me).  6. $1,000 to invest Did you receive a year-end bonus? What do you plan to send the money on? Does anyone receive bonuses in February?