Pausing For Adoption
Tim and his wife can't have a child. They would like to adopt. Tim has $16,000 in a 401(k), and he and his wife are wondering if they should use that money to pay off some of the $40,000 student loan debt.
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Tim and his wife can't have a child. They would like to adopt. Tim has $16,000 in a 401(k), and he and his wife are wondering if they should use that money to pay off some of the $40,000 student loan debt.
Miles's son is getting married in February, but the wedding is in China. Miles and his wife are in an investment club with $15,000 in it. Should they take $5,000 out to go on this trip?
Ryan asks what Dave thinks about putting his emergency fund in bonds. Dave thinks it's stupid.
Wendy asks what happens to the money in an Education Savings Account (ESA) if they decide not to go to college.
Joe asks if it would be better to rent a car for vacation or use his own car.
Raphael asks what Dave thinks about using an online-only bank for his emergency fund. Is it a bad idea?
Sandy is on Baby Step 2. She made plans more than year ago to finance a birthday trip for her 40th birthday. It's been canceled, and her husband wants to take her to a fancy dinner instead.
Jimmy asks why Dave recommends an Education Savings Account (ESA) versus a 529. Dave recommends checking with an ELP to find an ESA and explains why he recommends them.
Tiffany asks if it's better to have your money in a certificate of deposit (CD) or a money market account. Dave explains what they are, but talks about why the interest rate is nothing to get excited about.
Molly has twins about to begin eighth grade. She could sell her home to move into a better school district, but that will cost an extra $250,000. Should she continue with private school or move?