Ecuador trip
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Christopherjart
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DividendGuy
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Definitely interested, if only to meet some of the superstars of our breed.
However, I don't know if I could justify the expense of it all. Not to toot my own horn, but I think I've already got the gist of this whole ERE/MMM thing.
I'm using the bus, riding a 49cc scooter, saving well over 50% of my expenses, administer my blog while working a full-time very middle-class job and have gone from $5k to over $100k in three years' time. I think the benefit would just be for the "once in a lifetime" experience of it all.
Plus, Ecuador is very high on my retirement destination list. Along with SE Asia, it's very cheap and visas are relatively easy to navigate. Cuenca gets rave reviews from the people who live/travel there. The climate might be a tad cold for me, however.
I'm also wondering how many ERE'ers are interested in this. Could be a great time!
However, I don't know if I could justify the expense of it all. Not to toot my own horn, but I think I've already got the gist of this whole ERE/MMM thing.
I'm using the bus, riding a 49cc scooter, saving well over 50% of my expenses, administer my blog while working a full-time very middle-class job and have gone from $5k to over $100k in three years' time. I think the benefit would just be for the "once in a lifetime" experience of it all.
Plus, Ecuador is very high on my retirement destination list. Along with SE Asia, it's very cheap and visas are relatively easy to navigate. Cuenca gets rave reviews from the people who live/travel there. The climate might be a tad cold for me, however.
I'm also wondering how many ERE'ers are interested in this. Could be a great time!
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secretwealth
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RealPerson
- Posts: 875
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I appreciate the irony in the $2,000 trek plus airfare to Ecuador to get to know 4 financial bloggers that live down the street so to speak. Also, I checked out the resort where this is held. There are quite a few negative comments online. The description of the course sounds more like meetings and sightseeing, but maybe they should devote some time to developing a hypothetical plan to retire there. Just to show the ropes. That may justify the trek down there.
Having said that, Quito is amazing and the equatorial jungle is incredible. Nothing like swimming with anacondas and piranhas. Well worth visiting.
Having said that, Quito is amazing and the equatorial jungle is incredible. Nothing like swimming with anacondas and piranhas. Well worth visiting.
I've registered so I can let you know how it goes. Like FF Jeff said, I think the most interesting part is getting to spend some time with the kind of crowd that would meet up in Ecuador for a retreat.
Putting down $2K is kind of a lot but I figure I deserve to treat myself and actually use some of my vacation time. Work's been tough this year and I deserve a break.
Putting down $2K is kind of a lot but I figure I deserve to treat myself and actually use some of my vacation time. Work's been tough this year and I deserve a break.
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secretwealth
- Posts: 1948
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I don't think I'll be going to this. My visa in Ecuador only lasts until May, and if I do a visa run it'll just get me to August. $2k is a bit much anyway, although I bet it'll attract an interesting crowd.
The main draw for me would be MMM, although it'd be much cheaper and easier to just find myself in Colorado at some point and send him an email.
Regarding retiring to Ecuador, here's the gist:
1) Learn Spanish, start now. If you don't know Spanish you're stuck on expat island
2) You can get permanent residence in Ecuador as an Investor if you put $25k cash in an Ecuadorian bank account, or if you purchase real estate with an assessed value over $25k. This low $25k number compared to other countries is one of the main draws for retirees, along with the weather, time zone, short flights to the US, and safety (city dependent).
The main draw for me would be MMM, although it'd be much cheaper and easier to just find myself in Colorado at some point and send him an email.
Regarding retiring to Ecuador, here's the gist:
1) Learn Spanish, start now. If you don't know Spanish you're stuck on expat island
2) You can get permanent residence in Ecuador as an Investor if you put $25k cash in an Ecuadorian bank account, or if you purchase real estate with an assessed value over $25k. This low $25k number compared to other countries is one of the main draws for retirees, along with the weather, time zone, short flights to the US, and safety (city dependent).
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RealPerson
- Posts: 875
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secretwealth
- Posts: 1948
- Joined: Mon Jun 27, 2011 3:31 am
@SW
Sure I'll take some pictures and document the event. I want to meet MMM because his personality is so funny and interesting in his blog posts. Jim Collins I'd like to meet because he seems very wise and is a few stages ahead of me in the FI journey.
@FFJeff
You'll get the update! I have more FF miles at this point than I know what to do with. I turned 40 last year and didn't so ANYTHING to mark the occasion. Work was too demanding (one reason I want to FIRE). This trip is part of inner voice saying I only live once and since I can afford it, go for it.
Sure I'll take some pictures and document the event. I want to meet MMM because his personality is so funny and interesting in his blog posts. Jim Collins I'd like to meet because he seems very wise and is a few stages ahead of me in the FI journey.
@FFJeff
You'll get the update! I have more FF miles at this point than I know what to do with. I turned 40 last year and didn't so ANYTHING to mark the occasion. Work was too demanding (one reason I want to FIRE). This trip is part of inner voice saying I only live once and since I can afford it, go for it.
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DividendGuy
- Posts: 441
- Joined: Sun Dec 05, 2010 9:58 pm
@secretwealth: yup, $25k. There's some other easy visas in Ecuador too, like the Professional Visa where the only requirement is that you have a college degree and you pay ~$400 to process the application (you don't even need to use the degree...)
@RealPerson: Cuenca has the safest reputation and people walk around the streets at all times of night without fear, etc. The whole coast is a bit sketchy in my opinion, with increasing drug trade. Quito and Guayaquil are a mixed bag like all big cities. One thing I'm still not used to all around Ecuador is armored guards outside of banks and high end shops.
@jacob:
You could swing six months for $3k pretty easily if you wanted to here in Ecuador, but I'm not really trying to, and I don't think I'll hit it. Assuming we stay in Cuenca for the next five months, my expenses are something like:
Our 1BR is $350/mo furnished in a really good location. My friend's studio is $140/mo... but given that we're already under budget, I don't mind paying up for a nicer place or for cross fit and meals out, etc.
@RealPerson: Cuenca has the safest reputation and people walk around the streets at all times of night without fear, etc. The whole coast is a bit sketchy in my opinion, with increasing drug trade. Quito and Guayaquil are a mixed bag like all big cities. One thing I'm still not used to all around Ecuador is armored guards outside of banks and high end shops.
@jacob:
You could swing six months for $3k pretty easily if you wanted to here in Ecuador, but I'm not really trying to, and I don't think I'll hit it. Assuming we stay in Cuenca for the next five months, my expenses are something like:
Our 1BR is $350/mo furnished in a really good location. My friend's studio is $140/mo... but given that we're already under budget, I don't mind paying up for a nicer place or for cross fit and meals out, etc.
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secretwealth
- Posts: 1948
- Joined: Mon Jun 27, 2011 3:31 am
"One thing I'm still not used to all around Ecuador is armored guards outside of banks and high end shops."
I saw that a lot in Guatemala--it unnerved me, but not as much as seeing children selling things in town and at gas stations during school time.
Your budget is incredibly reasonable--how often would you say you go to cafes/bars/restaurants?
I saw that a lot in Guatemala--it unnerved me, but not as much as seeing children selling things in town and at gas stations during school time.
Your budget is incredibly reasonable--how often would you say you go to cafes/bars/restaurants?
We usually eat out for lunch and dinner. Low end meals out are $1.50 - $2.50, and mid tier meals are $3-4. (High end is ~$10) We usually have one low end meal (like the locals) and one mid tier meal (like the rich locals or gringos) out per day.
For snacks at the market for one dollar you can get: 12 bananas, 4 mangoes, or 4 avocados. So we make plantains or fruit juice or guacamole.
For breakfast we eat yogurt and granola, which are both cheap here. Basically anything the locals eat is cheap. If only the locals ate Sriracha sauce...
And I take about two bus rides a day on average, for $0.50 total.
It's not really worth the trouble of cooking here considering how cheap eating out is, and how quickly it's ready. Those low end $1.50 - $2.50 meals work like this: you sit down and say "the lunch" or "the dinner" and within one minute they serve you fruit juice (fresh), an appetizer (usually popcorn!), then soup of the day, then the entree of the day (rice + chicken/beef + beans/lentils/salad), then desert (fruit cup in yogurt or like jello... the $1.50 places don't serve desert). Although you get a variety of foods, it probably ends up being around 900 calories, as opposed to the 2000 calorie meals out you get in the US.
It's still kind of amazing to me to get a complete dinner for $2, although part of the lower cost is definitely lower quality.
For snacks at the market for one dollar you can get: 12 bananas, 4 mangoes, or 4 avocados. So we make plantains or fruit juice or guacamole.
For breakfast we eat yogurt and granola, which are both cheap here. Basically anything the locals eat is cheap. If only the locals ate Sriracha sauce...
And I take about two bus rides a day on average, for $0.50 total.
It's not really worth the trouble of cooking here considering how cheap eating out is, and how quickly it's ready. Those low end $1.50 - $2.50 meals work like this: you sit down and say "the lunch" or "the dinner" and within one minute they serve you fruit juice (fresh), an appetizer (usually popcorn!), then soup of the day, then the entree of the day (rice + chicken/beef + beans/lentils/salad), then desert (fruit cup in yogurt or like jello... the $1.50 places don't serve desert). Although you get a variety of foods, it probably ends up being around 900 calories, as opposed to the 2000 calorie meals out you get in the US.
It's still kind of amazing to me to get a complete dinner for $2, although part of the lower cost is definitely lower quality.
Re: Ecuador trip
The time has arrived for the big trip down to Ecuador. I'm flying down tonight and Cheryl, the organizer, is going to meet us upon arrival. I believe there will be a few attendees on my flight and several more arrive on a flight an hour later. I wonder if I'll be able to detect which fellow passengers are attendees?
I've been to Quito once before, several years ago. I recall noticing the altitude as soon as I got off the plane. It was the only time I felt the effect. We'll see this time. I've been living in Mexico in a place that's about 4,000 feet above sea level for the past ~1.5 years so maybe I"m a bit acclimated at this point.
My Spanish is light years ahead of when I was last there. It's funny how certain situations teach you the meaning of certain words and you never forget the moment. In Quito it was "antes" which means "before". Leaving Quito on my way to the airport I was talking with the cab driver and he said something about payment and "antes". He pulled over just short of the airport drop-off zone so I could pay him. At first I was a bit scared until I realized what "antes" meant. I think he wasn't a licensed cab and didn't want the police to see him accepting a fare.
I've been to Quito once before, several years ago. I recall noticing the altitude as soon as I got off the plane. It was the only time I felt the effect. We'll see this time. I've been living in Mexico in a place that's about 4,000 feet above sea level for the past ~1.5 years so maybe I"m a bit acclimated at this point.
My Spanish is light years ahead of when I was last there. It's funny how certain situations teach you the meaning of certain words and you never forget the moment. In Quito it was "antes" which means "before". Leaving Quito on my way to the airport I was talking with the cab driver and he said something about payment and "antes". He pulled over just short of the airport drop-off zone so I could pay him. At first I was a bit scared until I realized what "antes" meant. I think he wasn't a licensed cab and didn't want the police to see him accepting a fare.
Re: Ecuador trip
Well I'm back from my trip to Ecuador. I probably shouldn't be writing a recap after my first day back in the office. The first day back to work is always tough and today was no exception. I was fortunate to have a free day in the US (Monday was a holiday in Mexico) before heading back to the office.
Jim Collins wrote a nice summary of the week in his blog http://jlcollinsnh.com/2013/09/17/chaut ... of-dreams/. His post also links to summaries written by JD Roth, Pete (MMM) and Johnny Moneyseed.
I'm glad I went and had a great time. Ecuador really impressed me and I'd like to explore more of it. Quito even seemed cleaner and picturesque than I recall. My time in Mexico may have altered by basis of comparison but it seems that Ecuador has done well economically.
Presenters
Pete is a great laugh and in-person is just like he writes on his blog
JD Roth was constantly working on editing his photos and writing. He's a bit more introspective (but also laughing and joking constantly). I think we might both be a lot alike.
Cheryl is a very independant woman with an interesting story. It takes a certain kind of person to move to a farm in Ecuador on one's own (and I mean that in a good way).
Jim Collins is super smart and very easy to talk to. I hope to head up to NH and visit him and his wife at some point.
Attendees
As Jim's post says there was a very diverse crowd. The first night most everyone was quiet and getting to know one another. After that the wine, whiskey and jokes flowed. This was NOT an INTJ crowd much to my surprise. The noise level and crowd did start to wear me down towards the end but it was well worth it to meet and interact with others who share the same philosophy (generally) towards work, money and happiness.
I came away inspired and with what I hope are friends spread across the US and Canada.
Jim Collins wrote a nice summary of the week in his blog http://jlcollinsnh.com/2013/09/17/chaut ... of-dreams/. His post also links to summaries written by JD Roth, Pete (MMM) and Johnny Moneyseed.
I'm glad I went and had a great time. Ecuador really impressed me and I'd like to explore more of it. Quito even seemed cleaner and picturesque than I recall. My time in Mexico may have altered by basis of comparison but it seems that Ecuador has done well economically.
Presenters
Pete is a great laugh and in-person is just like he writes on his blog
JD Roth was constantly working on editing his photos and writing. He's a bit more introspective (but also laughing and joking constantly). I think we might both be a lot alike.
Cheryl is a very independant woman with an interesting story. It takes a certain kind of person to move to a farm in Ecuador on one's own (and I mean that in a good way).
Jim Collins is super smart and very easy to talk to. I hope to head up to NH and visit him and his wife at some point.
Attendees
As Jim's post says there was a very diverse crowd. The first night most everyone was quiet and getting to know one another. After that the wine, whiskey and jokes flowed. This was NOT an INTJ crowd much to my surprise. The noise level and crowd did start to wear me down towards the end but it was well worth it to meet and interact with others who share the same philosophy (generally) towards work, money and happiness.
I came away inspired and with what I hope are friends spread across the US and Canada.