The “How To” Plan - Before We Go...
I wish I could tell you that I have it all figured out and that our relocate plan is 100% foolproof, but let’s be honest…I don’t really have it all sorted out just yet.
Here are some highlights to date:
1. Become Debt Free. Our main plan of action is still to pay off the mortgage, credit line and any other debts we might have within the next 3-5 years. When the time comes to sell here, the equity we have in our current house will easily pay for our house or condo in Ecuador. Believe me, we don’t have an extravagant house now, but housing costs in Ecuador are substantially less than houses in North America, which will give us a nice nest egg left over.
2. Downsizing. Slowly we will begin to purge everything non-essential from our lives. Apart from our laptops and iPods and some personal meaningful items, we don’t plan on taking much with us, but the thought of narrowing it down to only a few boxes is overwhelming me already. I’m not attached to a lot of things, but the thought of the work involved in getting rid of it all is freaking me out. The discussion has already begun as to what can go now and what needs to stay until the end. I can also tell you that the “eBay and yard sale” piles have also formed. If you’re looking for something in particular, let me know – I probably have it.
3. Save, Save and Save Some More. This one is obvious, but we will be watching our money more closely than usual and choosing our expenditures even more wisely. The plan is to save the money we make from selling off our household items in a separate account and slowly convert the money from Canadian to USD, as USD is the currency of Ecuador. This money will then cover our set-up costs in Ecuador or as I like to call it - the “buy new stuff in Ecuador” fund.
4. Learn to Speak Spanish. This is probably the biggest obstacle we will need to overcome. I can speak a little Spanish, but unless I only need to ask for directions to the bathroom or order a beverage and cheeseburger, I’m pretty much screwed. I’m looking into the Rosetta Stone program and would appreciate any insight or personal recommendations you guys might have on this one. (Krystn don’t make any plans for 2017, since I might need to take you up on your offer to become my personal translator and relocate to Ecuador with me.)
The details are particularly fuzzy on what we plan on doing once we get there, so I’ll leave that for another day.