Obama Announces Normalization of Cuban Relations: How That Might Affect Your Retirement

December 17, 2014 — The Obama Administration and Raoul Castro opened up the way to a normalization of relations today. Although limited in scope, it appears that family travel will be permitted, remittances will be made easier, and the U.S. will open an embassy in Havana. Americans will also be able to bring back up to $100 worth of cigars and rum, which is likely to be very popular (your editor was in Cuba in November, and wished he could have done so!).

The news also has implications for retirees. For one, it will be easier to visit, particularly if you have family there. Widespread tourism is likely to follow. And thinking big and possibly long-term, Cuba could be an interesting retirement spot for the intrepid. It has fabulous beaches, great scenery, and interesting cities. Real estate is inexpensive, and the cost of living is low. Currently Americans are prohibited from owning property in Cuba, and though illegal, the practice does exist through intermediaries.
But all of that could be a long way off. Meanwhile, it will be most interesting to see how this plays out.

Check out these Cuban pictures and observations
For a fun snapshot at what it’s like to visit Cuba, check out this Blog post from your editor’s wife, Lucy Burdette – “A Visit to Cuba: Taking Things for Granted”

For more car photos check out the Topretirements Pinterest board on the “Old Cars of Cuba“.