| Assets: | ||
| Banks | $46,838 | |
| Roth IRA | $5,225 | |
| 401(k) | $2,240 | |
| Debts: | ||
| Credit Cards | $49,141 | |
| Private Student Loans | $56,748 | @8% variarble |
| Federal Student Laon | $182,393 | @3.75% fixed |
| Net Worth | -$233,979 |
My credit card debt and banks amounts are pretty high because I'm borrowing money @ 0% from the credits cards using 0% balance transfers to my bank account and earning 6% interest right now using credit card arbitrage method. My loans are obviously very high. Private loans I plan on paying back soon but the federal loans with such a low interest rate (barely above inflation) I will stretch out over 30 years. I'm trying to max out my 401(k) and Roth IRA because I will have a much higher income in a 3 years (to quickly pay back my loans) and I won't be able to put that money in tax free retirement growths. I've done the math and the tax savings from me putting that money away until I retire is more than the interest on the loans for 3 years.
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