Library assets on removable drive?

Hi folks

Working my way through the Chad Perkins tutorials on Lynda.com. My Library panel is empty and I'm assuming it's because I simply need to perform a reinstall in order to select what is needed and missing. But that's not my question here.

I'm curious if there is a way to install the additional content on a thumb drive that I can connect when working with Encore? My main PC drive is beginning to fill up so I'm hesitant to install additional content that may impact that further. So hoped the thumb drive soluton would possibly work. I have a few 8 gig thumb drives as well as a 1 terrabyte exernal hard drive  and it seems the perfect use for these if it can work.

advTHANKSance for any info! Rick