Hello everyone! I've come for advice! My current situation is as follows:
Age: 27
Income: $51,000
Rent: $950
Retirement TSP Account: ~$17,000
Retirement Vanguard Account (2055 Life Cycle Fund) ~$8,200
Student Debt: $10,000
Personal Loan: $9,500 (9% interest)
Credit Card Debt: $8,000 (16%)
Between a car payment, insurance, cell phone, food and gas, I'm basically check to pay check. I absolutely pay everything on time and have a great credit score (780). I would really like to get rid of my credit card debt as soon as possible. I find it very tempting to cash in some of my retirement account to get rid of it completely but realize I would be missing out on potential gains. GOOD or BAD idea? I'm also in the works to drive for Uber on the side to put a bigger dent into getting the debts paid off. So, basically my main question is whether or not it's a terrible idea to cash in come retirement to get rid of the high interest CC debt. Once I get rid of that debt, I can instead be putting more money into retirement and savings instead of towards a CC payment. Any advice would be greatly appreciated!