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How much is ‘enough’ for financial reserves

Nov

16

2013

Good morning:

I just returned from my first trip to Ecuador and it was spectacular. Thanks for you prior insight. I read fairly frequently that ex-pats come to live and find themselves having to return to the US as they run out of the ‘moderate’ savings they brought. We are looking to rent at first while we learn more about the country. We are not eligible to draw from our 401k’s for 3 years. Our goal is to have gathered 100k in cash before we relocate in June. Is this ‘moderate’ savings? How much should we account for emergency expenses? I am concerned because this move will mean I am exiting the workforce, perhaps permanently and I am so frightened of giving up a six figure income for the great unknown! Do you know of others who have taken such a leap? Yikes!!

Thanks for your thoughts on the feasibility of our plans!

In: Ecuador Living Asked By: [3 Grey Star Level]

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