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#116: Stacy and her boyfriend would like to downsize to one vehicle. But they're collectively $14,500 underwater on their car loans. \u2028 Stacy owes $11,000 on her car, but its trade-in value is $7,200. She's paying a\xa012.74% interest rate and her payoff date is 2021.\xa0 \u2028 Her boyfriend is in worse shape. He owes $18,500 on his vehicle, but its trade-in value\xa0is $7,800. He's paying a\xa021.5% interest rate and his payoff date is 2022. \u2028 Theoretically, they could sell Stacy's car to a private party, and she could pay off the rest of her loan. But the boyfriend's\xa0car is not in great shape, and probably won't survive for the next couple of years. And neither of them have found better\xa0refinancing deals. \u2028 What should Stacy and her boyfriend do? \u2028 _____ \u2028 Rachel earns $65,000 per year. She\u2019s 27 years old, contributes 20 percent to her retirement account, and holds $5,000 in savings.\xa0 \u2028 She owes $19,000 on a car loan, at a\xa04 percent interest rate, and $170,000 on student loans, all with different interest rates, but the highest at 7.9 percent. \u2028 She\u2019s hesitant to consolidate her student loans, because she\u2019s currently on a government plan that gives her flexibility, and she doesn\u2019t want to switch into a plan that requires her to make a fixed monthly payment. \u2028 She\u2019d like to know if she should use her savings to invest, or repay her loans. \u2028 _____ \u2028 Misty is 40 and has no retirement savings. She lives overseas and is able to save about $20,000 per year. She plans on living overseas for a couple more years before returning to the United States. \u2028 Her employer doesn\u2019t offer any retirement benefits or match, and her health insurance accounts are not HSA eligible. \u2028 She\u2019d like to contribute to index funds. Is this a good strategy? Does the fact that she lives overseas change her considerations? \u2028 ____ \u2028 Nicole is from New York and is living in Abu Dhabi. She\u2019s been living there for three-and-a-half years and makes good money. She\u2019s repaid her student loans and has a lot of cash saved. She\u2019s single. \u2028 She wants to become financially independent. What should she start doing now? \u2028 _____ \u2028 Karen is 32 and lives in Los Angeles. Her take-home pay is $4,300 per month. She supports her parents financially, which costs $1,200 per month; she also lives with them.\xa0 \u2028 She paid off $60,000 in student loans in 5 years. She\u2019s has $100k in a high-yield savings account and $100k in 403b. She holds $12k in student loan debt from graduate school. \u2028 She wants to make 20 percent downpayment on a home with the cash that she\u2019s saved. She\u2019d like to live there, but also have the potential to rent out this home if, at any point, she decides she doesn\u2019t want the burden of a mortgage anymore. She\u2019d like to keep her mortgage to $2,000 per month. \u2028 Given that the housing market is so high, should she buy a home? Or should she wait for a market crash and keep saving in the meantime? \u2028 ____ \u2028 Former financial advisor Joe Saul-Sehy and I tackle these questions in this episode. Enjoy!\n For more information, visit the show notes at http://affordanything.com/episode116\nLearn more about your ad choices. Visit podcastchoices.com/adchoices