Q&A Categories

How much is ‘enough’ for financial reserves




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]

Answer this Question

You must be Logged In to post an Answer.

Not a member yet? Sign Up Now »

Other Top Ecuador Sites

Quito Airport Hotel

Guayaquil Airport Hotel Domenick Buonamici

Star Points Scale

Earn points for Asking and Answering Questions!

Grey Sta Levelr [1 - 25 Grey Star Level]
Green Star Level [26 - 50 Green Star Level]
Blue Star Level [51 - 500 Blue Star Level]
Orange Star Level [501 - 5000 Orange Star Level]
Red Star Level [5001 - 25000 Red Star Level]
Black Star Level [25001+ Black Star Level]