"Emel is either a teacher or a student."
Translation:Emel ya bir öğretmen ya da bir öğrenci.
There is a difference in stress (see Akshan's comment) but I'm struggling to think of a sentence where there could be any confusion with the locative.
That's just because the type of sentence you construct with "ben-DE" to say that something is "with me" (a way of saying "I have") would need another subject or object.
e.g. Bende kitap var
= I have a book (lit. With me - a book - there is)
= The book is with me
Whereas, using "BEN-de" to mean "I too/also..." would include the 1st person form of whatever verb you are using
e.g. Bende içiyorum
= I am drinking too
Therefore, even without sufficient stress, the meaning should be obvious from context, and I really can't think of a sentence like this that could take two meanings if, say, it was written down.