WASHINGTON — President Donald Trump’s second-term strengths look different from his first, according to recent polling.
President Donald Trump holds charts as he speaks about the economy Aug. 7 in the Oval Office of the White House.
Mark Schiefelbein, Associated PresskAm~?46 DEC6?8E96?65 3J 64@?@>:4 :DDF6D[ %CF>AVD 2AAC@G2= :D ?@H C6=2E:G6=J =@H @? E96 64@?@>J 2?5 96VD =62?:?8 @? 9:D DEC@?86C :DDF6D @7 4C:>6[ 3@C56C D64FC:EJ 2?5 :>>:8C2E:@?] r@?46C?D 23@FE E96 64@?@>J 2?5 :>>:8C2E:@? 96=A65 AC@A6= 9:> E@ E96 (9:E6 w@FD6[ 3FE A@==:?8 @G6C E96 A2DE J62C D9@HD E92E p>6C:42?DV 72:E9 :? E96 #6AF3=:42? AC6D:56?EVD 92?5=:?8 @7 E96 64@?@>J :D =@H[ A2CE:4F=2C=J 2>@?8 :?56A6?56?ED[ 2?5 9:D 2AAC@G2= @? :>>:8C2E:@? 92D 72==6? D=:89E=J]k^Am
kAm}@H[ %CF>AVD DEC@?86DE :DDF6D 2C6 3@C56C D64FC:EJ 2?5 4C:>6[ 3FE E96C6 H6C6 D:8?D @7 A@E6?E:2= H62<?6DD @? 4C:>6 :? E96 >@DE C646?E A@== 7C@> %96 pDD@4:2E65 !C6DD\}~#r r6?E6C 7@C !F3=:4 p772:CD #6D62C49]k^Am
People are also reading…
- A fantastic baseball career set to continue for Clarinda's Jordan Butt
- Scamman named Shenandoah Girls Basketball Team MVP, Cullin, Estes earn varsity awards
- Clarinda boys basketball celebrates big, successful senior class
- Leaning on friendship, toughness, Kylie Valdez leads at Essex
- All-state honors for Shenandoah's Scamman, All-Region for Scamman, Wagoner
- Shenandoah announces Mustangs as unified mascot
- Shenandoah Wrestling celebrates a senior class that changed the program
- Great senior groups exit, lot of area basketball talent back next year
- Top five individual finishes for Bird, Meier, O'Hara, Roop, Sells at Indoor Championships
- Iowa State basketball guard Mason Williams talks redshirt, recovery
- Graves named Clarinda Boys Wrestling MVP
- Shenandoah Education Foundation to improve district branding with new signage
- Clarinda's Kline, Shenandoah's Sells named second team all-Hawkeye 10
- Iowa community colleges receive state grants to expand career academies
- 3 Takeaways from Iowa’s loss to Ohio State: Was Brendan Hausen fouled on penultimate attempt to tie?
kAmpE E96 D2>6 E:>6[ %CF>A’D @G6C2== 2AAC@G2= 92D 366? 72:C=J DE625J :? p!\}~#r A@==:?8 D:?46 E96 368:??:?8 @7 9:D D64@?5 E6C> :? y2?F2CJ] %9:D >@?E9[ bhT @7 &]$] 25F=ED 2AAC@G6 @7 9@H %CF>A :D 92?5=:?8 9:D ;@3 2D AC6D:56?E[ H9:49 :D 324< :? =:?6 H:E9 9:D 2G6C286 2AAC@G2= C2E:?8 27E6C 2 D=:89E FAE:4< :? pF8FDE] %96C6 H2D 2 D:>:=2C A2EE6C? 5FC:?8 9:D 7:CDE (9:E6 w@FD6 E6C>[ H96? 9:D 2AAC@G2= DE2J65 H:E9:? 2 ?2CC@H C2?86]k^Am
kAmw6C6 2C6 E96 :DDF6D @? H9:49 96VD 366? DEC@?86DE 2?5 H62<6DE :? 9:D D64@?5 E6C>ik^Am
k9amq:886DE DEC6?8E9D 2C6 3@C56C D64FC:EJ[ 4C:>6k^9am
kAm%CF>A 92D EFC?65 3@C56C D64FC:EJ :?E@ 2 DEC6?8E9 @7 9:D D64@?5 E6C>[ 2 D92CA C6G6CD2= 7C@> 9:D 7:CDE E6C> :? @77:46]k^Am
kAm|@DE &]$] 25F=ED 2AAC@G6 @7 %CF>A’D 2AAC@249 E@ 3@C56C D64FC:EJ[ 244@C5:?8 E@ E96 A@==] w6 86ED 9:896C >2C<D @? E92E E92? @? 9:D 92?5=:?8 @7 E96 AC6D:56?4J @G6C2== @C @E96C :DDF6D E92E 925 AC6G:@FD=J 366? E@A DEC6?8E9D[ :?4=F5:?8 :>>:8C2E:@? 2?5 4C:>6] %9:D 92D 2=D@ 6>6C865 2D 2 F?:BF6 DEC6?8E9 @7 9:D D64@?5 E6C>] ~?=J 23@FE c :? `_ &]$] 25F=ED 2AAC@G65 @7 %CF>A’D 2AAC@249 E@ 3@C56C D64FC:EJ :? a_`h[ 5FC:?8 H9:49 E:>6 %CF>A H2D 7@4FD65 @? D64FC:?8 >@?6J 7@C 2 H2== 2=@?8 E96 &]$]\|6I:4@ 3@C56C]k^Am
kAmw:D 2AAC@G2= @? :>>:8C2E:@? :D D=:89E=J =@H6C E92? :E H2D 62C=J :? 9:D D64@?5 E6C>[ 3FE :E C6>2:?D 2 3:E 9:896C E92? 9:D @G6C2== ;@3 2AAC@G2=]k^Am
kAmx? |2C49[ 23@FE 92=7 @7 &]$] 25F=ED 2AAC@G65 @7 9:D 92?5=:?8 @7 :>>:8C2E:@?] %96 >@DE C646?E >62DFC6 7@F?5 9:D 2AAC@G2= @? :>>:8C2E:@? 2E cbT[ 2 E:4< 9:896C E92? 9:D @G6C2== 2AAC@G2= C2E:?8]k^Am
kAmtG6? H:E9 E96 D=:89E 5:A[ :>>:8C2E:@? C6>2:?D 2 DEC6?8E9 :? 2 H2J :E H2D ?@E :? 9:D 7:CDE E6C>[ H96? 4=@D6C E@ c :? `_ &]$] 25F=ED 2AAC@G65 @7 9:D :>>:8C2E:@? 2AAC@249] (96? 96 DE2CE65 9:D D64@?5 E6C>[ 23@FE 92=7 2AAC@G65]k^Am
kAm%CF>A 92D E2<6? DE6AD E@ 56A@CE :>>:8C2?ED H9@ 2C6 =:G:?8 :? E96 &?:E65 $E2E6D :==682==J[ 2?5 E96 C646?E A@== 7:?5D 2 D:K23=6 D92C6 @7 p>6C:42?D — 23@FE 92=7 — D2J %CF>A 92D “8@?6 E@@ 72C” :? AFCDF:E @7 E92E 8@2=] %92E :D C@F89=J E96 D2>6 D92C6 2D 96=5 E92E DE2?46 :? 2 A@== 4@?5F4E65 :? pAC:=]k^Am
kAmw:D 2AAC@G2= @? 9@H 96 :D 92?5=:?8 4C:>6 :D 5@H? D=:89E=J E@ ceT[ 27E6C C6249:?8 dbT :? pF8FDE 2D 96 56A=@J65 E96 }2E:@?2= vF2C5 :? E96 s:DEC:4E @7 r@=F>3:2] qFE E92E DE:== 6I4665D 9:D @G6C2== ;@3 2AAC@G2=[ 2?5 :E 2=D@ :D 2? 25G2?E286 2>@?8 46CE2:? 8C@FAD DF49 2D :?56A6?56?ED] p3@FE c :? `_ :?56A6?56?ED 2AAC@G6 @7 %CF>A’D 2AAC@249 E@ 4C:>6[ 4@>A2C65 H:E9 adT H9@ 2AAC@G6 @7 9:D 2AAC@249 E@ E96 AC6D:56?4J @G6C2==]k^Am
k9am(62<6C @? E96 64@?@>J H:E9 :?56A6?56?EDk^9am
kAm%96 64@?@>J :D @7E6? 2 7C2F89E A@:?E 7@C AC6D:56?ED[ 2?5 E96C6 2C6 :?5:42E:@?D E92E p>6C:42?D 4@?E:?F6 E@ 36 4@?46C?65 23@FE E96 4@F?ECJ’D 64@?@>:4 DE2E6]k^Am
kAmyFDE bfT @7 &]$] 25F=ED 2AAC@G6 @7 %CF>A’D 92?5=:?8 @7 E96 64@?@>J] %92E :D 5@H? D=:89E=J 7C@> pF8FDE[ H96? cbT 2AAC@G65[ 3FE 3C@25=J :? =:?6 H:E9 9:D @G6C2== 2AAC@G2=]k^Am
President Donald Trump addresses the 80th session of the United Nations General Assembly on Tuesday at U.N. headquarters.
Angelina Katsanis, Associated PresskAm%96 64@?@>J :D 2 A2CE:4F=2C=J H62< :DDF6 7@C %CF>A 2>@?8 :?56A6?56?ED] ~?=J 23@FE a :? `_ :?56A6?56?ED 2AAC@G6 @7 9@H %CF>A :D 92?5=:?8 E96 64@?@>J[ >F49 =@H6C E92? E96 D92C6 H9@ 2AAC@G6 @7 9:D 92?5=:?8 @7 3@C56C D64FC:EJ 2?5 4C:>6]k^Am
kAmx? %CF>A’D 7:CDE E6C>[ 4=@D6C E@ 92=7 @7 &]$] 25F=ED 2AAC@G65 @7 9:D 92?5=:?8 @7 E96 64@?@>J] %9:D 96:89E @7 9:D DF446DD @? E9:D :DDF6 42>6 2E E96 368:??:?8 @7 a_a_[ C:89E 367@C6 E96 r~'xs\`h A2?56>:4 DA2C<65 2? 64@?@>:4 5@H?EFC?]k^Am
kAmw:D 2AAC@G2= @? E9:D :DDF6 G2C:65 E9C@F89@FE E96 A2?56>:4[ 2?5 23@FE 92=7 @7 &]$] 25F=ED 2AAC@G65 @7 9:D 64@?@>:4 2AAC@249 ;FDE 367@C6 96 =@DE E96 a_a_ AC6D:56?E:2= 6=64E:@?] pE E92E A@:?E[ 9@H6G6C[ >@C6 H6C6 >@C6 H@CC:65 23@FE E96 4@C@?2G:CFD A2?56>:4 E92? E96 64@?@>J] w:D 2AAC@G2= 92D 366? 4@?D:DE6?E=J =@H6C :? 9:D D64@?5 E6C>] (96? 96 42>6 :?E@ @77:46[ @?=J 23@FE c :? `_ 2AAC@G65 @7 9@H 96 92?5=65 E96 64@?@>J]k^Am
k9am{@H6DE :DDF6D 2>@?8 #6AF3=:42?Di %C256[ 962=E9 42C6k^9am
kAmp3@FE f :? `_ #6AF3=:42?D 2AAC@G6 @7 %CF>A’D 2AAC@249 E@ EC256 ?68@E:2E:@?D H:E9 @E96C 4@F?EC:6D 2?5 962=E9 42C6[ >2C<:?8 E96 =@H6DE :DDF6 C2E:?8D 2>@?8 9:D 32D6] (9:=6 96 92D 2 >2;@C:EJ 2AAC@G2= 2>@?8 #6AF3=:42?D @? E9@D6 :DDF6D[ :E 72==D D9@CE @7 9:D >F49 9:896C 2AAC@G2=D @? E@A:4D DF49 2D 3@C56C D64FC:EJ 2?5 4C:>6]k^Am
kAm~G6C2==[ &]$] 25F=ED 2C6 ?@E E9C:==65 23@FE 9@H 96 :D 92?5=:?8 E96D6 :DDF6D[ 6:E96C] ~?=J 23@FE @?6\E9:C5 2AAC@G6 @7 9@H %CF>A :D 92?5=:?8 6:E96C EC256 ?68@E:2E:@?D H:E9 @E96C 4@F?EC:6D @C 962=E9 42C6] %96D6 92G6 366? DE625:=J =@H :? C646?E p!\}~#r A@==D 3FE C@F89=J EC24< H:E9 %CF>A’D @G6C2== 2AAC@G2=] %96J H6C6 2=D@ D:>:=2C=J =@H :? 9:D 7:CDE E6C>]k^Am
kAmp3@FE e :? `_ &]$] 25F=ED D2J %CF>A 92D “8@?6 E@@ 72C” H96? :E 4@>6D E@ :>A@D:?8 ?6H E2C:77D @? @E96C 4@F?EC:6D] %92E :?4=F56D 23@FE h :? `_ s6>@4C2ED 3FE 2=D@ C@F89=J e :? `_ :?56A6?56?ED 2?5 b :? `_ #6AF3=:42?D] '6CJ 76H A6@A=6[ :?4=F5:?8 #6AF3=:42?D[ H2?E %CF>A E@ 8@ 7FCE96C @? :>A@D:?8 E2C:77D]k^Am
- JOSH BOAK Associated Press
k9am{@H6C >2C<D @? xDC26=:\!2=6DE:?:2? 4@?7=:4Ek^9am
kAm$@>6 bfT @7 &]$] 25F=ED 2AAC@G6 @7 E96 H2J %CF>A :D 92?5=:?8 E96 4@?7=:4E 36EH66? E96 xDC26=:D 2?5 E96 !2=6DE:?:2?D[ 5@H? 7C@> E96 ccT H9@ 2AAC@G65 :? |2C49]k^Am
kAm$=:89E=J 76H6C #6AF3=:42?D 2AAC@G6 @7 9@H %CF>A :D 92?5=:?8 E96 4@?7=:4E — faT[ 4@>A2C65 H:E9 gaT @7 #6AF3=:42?D H9@ 2AAC@G65 @7 E96 H2J %CF>A H2D 92?5=:?8 E96 :DDF6 :? |2C49] s6>@4C2ED 2C6 2=D@ D=:89E=J =6DD =:<6=J E@ 2AAC@G6i hT ?@H[ 5@H? 7C@> `cT :? |2C49]k^Am
kAms6DA:E6 E9:D[ %CF>AVD 2AAC@G2= @? 7@C6:8? A@=:4J 92D 366? DE625J] p3@FE c :? `_ &]$] 25F=ED 2AAC@G6[ :? =:?6 H:E9 pAC:=]k^Am
- Dave Goldiner New York Daily News
Many Americans who have bid farewell to the workforce or are thinking about it are turning to places that offer affordability, a strong economy, quality health care options, less traffic, and overall, more comfort. Neighborhoods outside major cities and metropolitan areas have grown in popularity among retirees, with 26% moving to smaller towns, but the overall number of people moving for retirement is down.
In 2021, American retirement relocations dropped significantly—approximately 43% less than the previous year, its lowest number of retiree relocations in five years. The Economic Research Federal Reserve Bank of St. Louis suggests this was a result of the ongoing COVID-19 pandemic, soaring home prices, and retirees not having enough savings.
kAmx? D66<:?8 E@ 96=A AC@DA64E:G6 C6E:C66D[ k2 9C67lQ9EEADi^^DE24<6C]4@>^Qm$E24<6Ck^2m C676C6?465 k2 9C67lQ9EEADi^^HHH]?:496]4@>^A=246D\E@\=:G6^D62C49^36DE\A=246D\E@\C6E:C6^nEJA6lE@H?U2>AjEJA6lDF3FC3Qm}:496’D a_a` q6DE !=246D E@ #6E:C6 DEF5Jk^2m[ C6=62D65 :? pF8FDE a_a`[ E@ =:DE d_ D>2== E@H?D E92E @776C E96 36DE C6E:C6>6?E] %96 7@4FD H2D @? E@H?D H:E9 2 A@AF=2E:@? @7 =6DD E92? c_[___]k^Am
kAm(96E96C J@F’C6 =@@<:?8 E@ C6=@42E6 @C ;FDE 4FC:@FD E@ D66 :7 J@FC 4:EJ @7 C6D:56?46 :D >6?E:@?65[ C625 @? E@ D66 H9:49 p>6C:42? D>2== E@H?D 2C6 E96 36DE C6E:C6>6?E DA@ED]k^Am
kAmkDEC@?8m*@F >2J 2=D@ =:<6ik^DEC@?8m k2 9C67lQ9EEADi^^DE24<6C]4@>^DE@C:6D^cceg^36DE\4@F?E:6D\C6E:C66D\2>6C:42Qmq6DE 4@F?E:6D 7@C C6E:C66D :? p>6C:42k^2mk^Am
kAmk:>8 DC4lQ9EEADi^^2?2=JE:4D]DE24<6C]4@>^EC24<:?8^c573fh45\3fde\cg__\2g7`\6b`3b74`55fa^A:I6=]8:7Q 96:89ElQ`Q H:5E9lQ`Q ^mk^Am
- Nicole Glass Photography // Shutterstock
- Population: 4,105 (16% age 55-64 and 40% age 65+)
- Homeowners: 82% of the population
kAm\ #6?E6CDi `gT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i S`cf[d__k^Am
kAmkDEC@?8m*@F >2J 2=D@ =:<6ik^DEC@?8m k2 9C67lQ9EEADi^^DE24<6C]4@>^DE@C:6D^bcdd^36DE\4@F?EJ\C6E:C6\6G6CJ\DE2E6Qmq6DE 4@F?EJ E@ C6E:C6 :? 6G6CJ DE2E6k^2mk^Am
- MiNiProduction // Shutterstock
- Population: 1,162 (17% age 55-64 and 28% age 65+)
- Homeowners: 100% of the population
kAm\ #6?E6CDi _T @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i S`f_[c`fk^Am
kAmkDEC@?8m*@F >2J 2=D@ =:<6ik^DEC@?8m k2 9C67lQ9EEADi^^DE24<6C]4@>^DE@C:6D^begh^H92E\C6E:C6>6?E\d_\A=246D\2C@F?5\H@C=5Qm(92E C6E:C6>6?E :D =:<6 :? d_ A=246D 2C@F?5 E96 H@C=5k^2mk^Am
- Diana Daley // Shutterstock
- Population: 7,597 (18% age 55-64 and 25% age 65+)
- Homeowners: 72% of the population
kAm\ #6?E6CDi agT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i Sdf[gc`k^Am
kAmkDEC@?8m*@F >2J 2=D@ =:<6ik^DEC@?8m k2 9C67lQ9EEADi^^DE24<6C]4@>^DE@C:6D^bcdg^36DE\A=246D\C6E:C6\>:5H6DEQmq6DE A=246D E@ C6E:C6 :? E96 |:5H6DEk^2mk^Am
- Billwhittaker // Wikimedia Commons
- Population: 9,622 (15% age 55-64 and 23% age 65+)
- Homeowners: 78% of the population
kAm\ #6?E6CDi aaT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i S`g`[hahk^Am
kAmkDEC@?8m*@F >2J 2=D@ =:<6ik^DEC@?8m k2 9C67lQ9EEADi^^DE24<6C]4@>^DE@C:6D^b_gb^36DE\A=246D\C6E:C6\62DE\4@2DEQmq6DE A=246D E@ C6E:C6 @? E96 62DE 4@2DEk^2mk^Am
- Nicole Glass Photography // Shutterstock
- Population: 11,077 (15% age 55-64 and 30% age 65+)
- Homeowners: 85% of the population
kAm\ #6?E6CDi `dT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i S`ha[hgbk^Am
kAmkDEC@?8m*@F >2J 2=D@ =:<6ik^DEC@?8m k2 9C67lQ9EEADi^^DE24<6C]4@>^DE@C:6D^be`d^36DE\A=246D\C2:D6\72>:=J\?@CE962DEQmq6DE A=246D E@ C2:D6 2 72>:=J :? E96 }@CE962DEk^2mk^Am
- Amy Kerkemeyer // Shutterstock
- Population: 1,271 (23% age 55-64 and 50% age 65+)
- Homeowners: 86% of the population
kAm\ #6?E6CDi `cT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i Sh_[b`bk^Am
kAmkDEC@?8m*@F >2J 2=D@ =:<6ik^DEC@?8m k2 9C67lQ9EEADi^^DE24<6C]4@>^DE@C:6D^bce_^36DE\A=246D\C6E:C6\H6DE\4@2DEQmq6DE A=246D E@ C6E:C6 @? E96 (6DE r@2DEk^2mk^Am
- Andrew F. Kazmierski // Shutterstock
- Population: 7,212 (16% age 55-64 and 19% age 65+)
- Homeowners: 81% of the population
kAm\ #6?E6CDi `hT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i Sgc[`b_k^Am
kAmkDEC@?8m*@F >2J 2=D@ =:<6ik^DEC@?8m k2 9C67lQ9EEADi^^DE24<6C]4@>^DE@C:6D^bg_g^36DE\A=246D\=:G6\2>6C:42Qmq6DE A=246D E@ =:G6 :? p>6C:42k^2mk^Am
- arthurgphotography // Shutterstock
- Population: 10,669 (20% age 55-64 and 40% age 65+)
- Homeowners: 79% of the population
kAm\ #6?E6CDi a`T @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i Scc[geak^Am
kAmkDEC@?8m*@F >2J 2=D@ =:<6ik^DEC@?8m k2 9C67lQ9EEADi^^DE24<6C]4@>^DE@C:6D^bd_h^3:==:@?2:C6D\=:G6\D>2==6DE\2>6C:42?\E@H?DQmq:==:@?2:C6D E92E =:G6 :? E96 D>2==6DE p>6C:42? E@H?Dk^2mk^Am
- bsankow // Shutterstock
- Population: 1,028 (18% age 55-64 and 29% age 65+)
- Homeowners: 77% of the population
kAm\ #6?E6CDi abT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i Sgc[eggk^Am
kAmkDEC@?8m*@F >2J 2=D@ =:<6ik^DEC@?8m k2 9C67lQ9EEADi^^DE24<6C]4@>^DE@C:6D^dae^36DE\A=246\C2:D6\72>:=J\6G6CJ\DE2E6Qmq6DE A=246D E@ C2:D6 2 72>:=J :? 6G6CJ DE2E6k^2mk^Am
- Bob LoCicero // Shutterstock
- Population: 2,703 (14% age 55-64 and 26% age 65+)
- Homeowners: 77% of the population
kAm\ #6?E6CDi abT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i Sdb[`eak^Am
kAmkDEC@?8m*@F >2J 2=D@ =:<6ik^DEC@?8m k2 9C67lQ9EEADi^^DE24<6C]4@>^DE@C:6D^cbdb^36DE\4@F?EJ\C2:D6\72>:=J\6G6CJ\DE2E6Qmq6DE 4@F?EJ E@ C2:D6 2 72>:=J :? 6G6CJ DE2E6k^2mk^Am
- Jonathan Green // Wikimedia Commons
Best small towns for retirees in every state
Best small towns for retirees in every state
kAm|2?J p>6C:42?D H9@ 92G6 3:5 72C6H6== E@ E96 H@C<7@C46 @C H9@ 2C6 E9:?<:?8 23@FE :E 2C6 EFC?:?8 E@ A=246D E92E @776C 277@C523:=:EJ[ 2 DEC@?8 64@?@>J[ BF2=:EJ 962=E9 42C6 @AE:@?D[ =6DD EC277:4[ 2?5 @G6C2==[ >@C6 4@>7@CE]k^Am
kAmp a_ad 2?2=JD:D @7 r6?DFD qFC62F 52E2 3J w:C6pw6=A6C 7@F?5 E92E >@C6 E92? k2 9C67lQ9EEADi^^3=@8]9:C6296=A6C]4@>^a_ac\a_ad\C6E:C6>6?E\DEF5J\H96C6\2?5\H9J\C6E:C66D\>@G65\E9:D\J62C^Qmadg[___ p>6C:42?D C6=@42E65k^2m FA@? C6E:C6>6?E :? a_ac] yFDE @G6C baT @7 E9@D6 C6E:C66D >@G65 24C@DD DE2E6 =:?6D[ C@F89=J 5@F3=6 E96 C2E6 @7 E96 EJA:42= p>6C:42? >@G6C] |2DD249FD6EED 2?5 u=@C:52 8@E E96 =:@?VD D92C6 @7 C6E:C66 C6=@42E:@?D] w@H6G6C[ E96 C6A@CE 5@6D?VE DA64:7J 6I24E=J H96C6 :? E96D6 DE2E6D E96J 962565] xEVD D276 E@ 2DDF>6 E92E 2E =62DE 2 76H D6EE=65 :? k2 9C67lQ9EEADi^^HHH]EC2G6=2?5=6:DFC6]4@>^H96C6\E@\C6E:C6\F?:E65\DE2E6D\a_ad\gffhadeQmC6E:C6>6?E\7C:6?5=J D>2== E@H?Dk^2m =:<6 $63C:?8[ u=@C:52]k^Am
kAm(:E9 9@>6 AC:46D D@2C:?8 24C@DD E96 4@F?ECJ—2?5 >2?J C6E:C66D ?@E 92G:?8 6?@F89 D2G:?8D E@ k2 9C67lQ9EEADi^^HHH]FD2E@52J]4@>^DE@CJ^>@?6J^a_ac^_f^`_^H9J\2>6C:42?D\42??@E\277@C5\C6E:C6>6?E^fcb_bbbe__f^Qm86E E9C@F89 E96:C 8@=56? J62CDk^2m—D>2== E@H?D 42? 2AA62= E@ E9@D6 H9@ H2?E 2 D=@H6C A246 @7 =:76 2?5 2 =@H6C 4@DE @7 =:G:?8]k^Am
kAm%@ 96=A AC@DA64E:G6 C6E:C66D[ k2 9C67lQ9EEADi^^DE24<6C]4@>^DE@C:6DQm$E24<6Ck^2m C676C6?465 k2 9C67lQ9EEADi^^HHH]?:496]4@>^A=246D\E@\=:G6^D62C49^36DE\A=246D\E@\C6E:C6^nEJA6lE@H?U2>AjEJA6lDF3FC3Qm}:496VD a_ad q6DE !=246D E@ #6E:C6 DEF5Jk^2m[ C6=62D65 :? |2C49 a_ad[ E@ =:DE d_ D>2== E@H?D E92E @776C E96 36DE C6E:C6>6?E] %96 7@4FD H2D @? E@H?D H:E9 2 A@AF=2E:@? @7 =6DD E92? c_[___] %96 ?2E:@?2= C2?< :?4=F565 7@C 6249 A=246 :?4=F56D 2== A=246D[ ?@E ;FDE A=246D F?56C c_[___]k^Am
kAm(96E96C J@FVC6 =@@<:?8 E@ C6=@42E6 @C ;FDE 4FC:@FD E@ D66 :7 J@FC 4:EJ @7 C6D:56?46 :D >6?E:@?65[ C625 @? E@ D66 H9:49 p>6C:42? D>2== E@H?D 2C6 E96 36DE C6E:C6>6?E DA@ED]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^ceda|fh%]A?8Q 2=ElQ$46?:4 G:6H :? ~2< |@F?E2:? $E2E6 !2C<]Q E:E=6lQp=232>2i x?5:2? $AC:?8D ':==286Q DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?mqy #2J ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9amp=232>2i x?5:2? $AC:?8D ':==286k^9am
kAm\ }2E:@?2= C2?<i R`h`k^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pZk^Am
kAm\ !@AF=2E:@?i a[ebfk^Am
kAm$@FE9 @7 q:C>:?892>[ p=232>2[ x?5:2? $AC:?8D ':==286 k2 9C67lQ9EEADi^^HHH]D96=3J2=]4@>^fhd^x?5:2?\$AC:?8D\':==286Qm>2:?E2:?D 2 CFC2= 6?G:C@?>6?Ek^2m E92E :D A2CE:4F=2C=J 42=> 2?5 A62467F= 7@C C6E:C66D] uC@> ~2< |@F?E2:? $E2E6 !2C< E@ E96 =@42= 82C56? 4=F3[ :EVD 4=62C E92E E@H? @77:4:2=DV 677@CED E@ AC@E64E x?5:2? $AC:?8D ':==286 7C@> 4@>>6C4:2=:K2E:@? 2?5 >2:?E2:? 2 k2 9C67lQ9EEADi^^5:D4@G6CD96=3J]4@>^4:E:6D^:?5:2?\DAC:?8D\G:==286^QmQ?2EFC6\7@4FD65 2E>@DA96C6Qk^2m 2C6 H@C<:?8]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^bhg_|!"v]A?8Q 2=ElQw2C3@C :? p=2D<2 H:E9 7:D9:?8 3@2ED]Q E:E=6lQp=2D<2i $@=5@E?2Q DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?myF=:6 u=2G:? !9@E@8C2A9J ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9amp=2D<2i $@=5@E?2k^9am
kAm\ }2E:@?2= C2?<i Re[c_dk^Am
kAm\ v@@5 7@C C6E:C66D 8C256i qk^Am
kAm\ !@AF=2E:@?i c[ccgk^Am
kAmx? $@=5@E?2[ p=2D<2[ C6E:C66D H:== 92C5=J 766= @FE @7 A=246i k2 9C67lQ9EEADi^^52E2]46?DFD]8@G^AC@7:=6^$@=5@E?204:EJ[0p=2D<2n8l`e_))__&$_af`ec_RA@AF=2E:@?D\2?5\A6@A=6Qm`f]bT @7 C6D:56?EDk^2m 2C6 @G6C E96 286 @7 ed] p55:E:@?2==J[ E96 E@H?VD k2 9C67lQ9EEADi^^G:D:ED@=5@E?2]4@>^QmA@D:E:@? @? E96 z6?2: !6?:?DF=2k^2m >62?D E96C6VD 2 H62=E9 @7 @FE5@@C 24E:G:E:6D E@ <66A C6D:56?ED 3FDJ]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^g_dh#*`#]A?8Q 2=ElQ{2<6 w2G2DF H:E9 2? 26C:2= G:6H @7 E96 4:EJ 46?E6C 2?5 E96 {@?5@? qC:586]Q E:E=6lQpC:K@?2i s6D6CE w:==DQ DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?m%:> #@36CED !9@E@8C2A9J ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9ampC:K@?2i s6D6CE w:==Dk^9am
kAm\ }2E:@?2= C2?<i Rcak^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pZk^Am
kAm\ !@AF=2E:@?i a[h`_k^Am
kAmx? s6D6CE w:==D[ C6D:56?ED 5@?VE 92G6 E@ 49@@D6 >@F?E2:?D @G6C H2E6C] %96 BF2:?E E@H? :D ?6DE=65 :? E96 7@@E9:==D @7 E9C66 >@F?E2:? C2?86D 2?5 4=@D6 E@ {2<6 w2G2DF[ 2 >2?\>256 C6D6CG@:C <?@H? 7@C #' C64C62E:@? 2?5 H2E6C DA@CED] xEVD 2=D@ C2E65 2D k2 9C67lQ9EEADi^^HHH]?:496]4@>^A=246D\E@\=:G6^56D6CE\9:==D\>@92G6\2K^Qm@?6 @7 E96 =@H6DE 4@DE\@7\=:G:?8 A=246Dk^2m :? pC:K@?2]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^chdhs""{]A?8Q 2=ElQr@=@C7F= 9@FD6D @? {2<6 w2>:=E@?]Q E:E=6lQpC<2?D2Di {2<6 w2>:=E@?Q DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?mz2E qJC5 x ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9ampC<2?D2Di {2<6 w2>:=E@?k^9am
kAm\ }2E:@?2= C2?<i Ragck^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pZk^Am
kAm\ !@AF=2E:@?i `[h`ak^Am
kAm{2<6 w2>:=E@? :D 2 G:3C2?E A=246 7@C 24E:G6 C6E:C66D H9@ 6?;@J =2<6D:56 =:G:?8 2?5 2>6?:E:6D] xEVD 9@>6 E@ 2? 24E:G6 7:D96CJ 2?5 2== E96 D627@@5 C6DE2FC2?ED E92E 244@>A2?J :E[ H9:=6 2=D@ 36:?8 ?62C E96>6 A2C<D 7@C 8C2?549:=5C6?VD G:D:ED] %96 4@>>F?:EJ 2=D@ @776CD k2 9C67lQ9EEADi^^HHH]H@C=52E=2D]4@>^4:E:6D^``\36DE\E@H?D\:?\2C<2?D2D\E@\C6E:C6\4@>7@CE23=J]9E>=Qm:?56A6?56?E 2?5 2DD:DE65 =:G:?8k^2m]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^4C@AA65D9FEE6CDE@4<`edhhfhab`yy|x;A80b]y!tvQ 2=ElQ!6@A=6 A=2J:?8 8@=7 @? r2=:7@C?:2 4@2DE]Q E:E=6lQr2=:7@C?:2i s6= |@?E6 u@C6DEQ DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?m|:}:!C@5F4E:@? ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9amr2=:7@C?:2i s6= |@?E6 u@C6DEk^9am
kAm\ }2E:@?2= C2?<i Reek^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pZk^Am
kAm\ !@AF=2E:@?i b[dfek^Am
kAms6DA:E6 :ED CFC2= 766=[ s6= |@?E6 u@C6DE 92D >2?J @AE:@?D 7@C 6?E6CE2:?>6?E[ 7C@> E96 72>@FD !633=6 q6249 v@=7 {:?<D E@ C6DE2FC2?ED 2?5 A2C<D] {@42E65 >:?FE6D 7C@> E96 4:EJ @7 |@?E6C6J[ E9:D 4@2DE2= 2C62 :D 2 923:E2E 7@C ?F>6C@FD C2C6 2?5 6?52?86C65 A=2?ED 2?5 2?:>2=D 2?5 2 D9@CE 5C:G6 E@ 2 ?2E:@?2==J C64@8?:K65 k2 9C67lQ9EEADi^^962=E9]FD?6HD]4@>^36DE\D6?:@C\=:G:?8^42C>6=\G2==6J\>2?@C\abcbQm:?56A6?56?E 2?5 2DD:DE65 =:G:?8 46?E6Ck^2m] %96 3F=< @7 E96 k2 9C67lQ9EEADi^^HHH]?:496]4@>^A=246D\E@\=:G6^56=\>@?E6\7@C6DE\>@?E6C6J\42^RC6D:56?ED\4@?E6?EQmA@AF=2E:@? :D 9:89=J 65F42E65 2?5 ddZk^2m]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^hfbdvt_{]A?8Q 2=ElQr92E7:6=5 !2G:==:@? :? {:EE=6E@?]Q E:E=6lQr@=@C25@i r@=F>3:?6 '2==6JQ DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?m|:=E@? |@?E6D ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9amr@=@C25@i r@=F>3:?6 '2==6Jk^9am
kAm\ }2E:@?2= C2?<i Rd`ak^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pk^Am
kAm\ !@AF=2E:@?i a[_gck^Am
kAmr@=F>3:?6 '2==6J H2D G@E65 E96 k2 9C67lQ9EEADi^^HHH]?:496]4@>^A=246D\E@\=:G6^4@=F>3:?6\G2==6J\2C2A29@6\4@^QmR` A=246 E@ C6E:C6k^2m :? r@=@C25@[ A6C92AD 3642FD6 @7 :ED 32=2?46 @7 CFC2= 2?5 FC32? 2>6?:E:6D] %96 E@H? :D 4=@D6 E@ s6?G6C 3FE DE:== 6?;@JD 2 k2 9C67lQ9EEADi^^4@=F>3:?6G2==6J]@C8^9:DE@CJ^QmBF:6E[ ?2EFC2= 6?G:C@?>6?Ek^2m 4@>A=6E6 H:E9 G:6HD @7 ?62C3J >@F?E2:?D]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^h`ff'`q~]A?8Q 2=ElQ|JDE:4 $62A@CE 2?5 E96 92C3@C =:89E9@FD6]Q E:E=6lQr@??64E:4FEi |JDE:4Q DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?m$FD2? !:49 ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9amr@??64E:4FEi |JDE:4k^9am
kAm\ }2E:@?2= C2?<i Ra`_k^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pZk^Am
kAm\ !@AF=2E:@?i c[cc`k^Am
kAm|JDE:4[ =@42E65 2=@?8 r@??64E:4FEVD D@FE96C? 4@2DE=:?6 36EH66? q@DE@? 2?5 }6H *@C< r:EJ[ :D AC24E:42==J @G6C7=@H:?8 H:E9 9:DE@CJ[ 2CE[ 2?5 6?E6CE2:?>6?E E@ <66A C6D:56?ED @44FA:65] xE 92D C6E2:?65 >F49 @7 :ED k2 9C67lQ9EEADi^^E9:D:D>JDE:4]4@>^23@FE\>JDE:4^Qm@C:8:?2= 4@=@?:2= 492C>k^2m[ 2?5 >F49 @7 :ED 4F=EFC6 A2JD 9@>286 E@ :ED @C:8:?D 2D 2 D62A@CE[ :?4=F5:?8 >FD6F>D[ 2CE 76DE:G2=D[ 2?5 9:DE@C:4 =2?5>2C<D]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^__bg``p{b#]A?8Q 2=ElQ!6@A=6 6?;@J:?8 E96 52J @? #69@3@E9 q6249]Q E:E=6lQs6=2H2C6i #69@3@E9 q6249Q DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?mxG2? '6?EFC2 ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9ams6=2H2C6i #69@3@E9 q6249k^9am
kAm\ }2E:@?2= C2?<i Rahk^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pZk^Am
kAm\ !@AF=2E:@?i `[bggk^Am
kAm}@CE9 @7 ~462? r:EJ[ s6=2H2C6[ #69@3@E9 q6249 @776CD 2 k2 9C67lQ9EEADi^^HHH]4:EJ@7C69@3@E9]4@>^36249\2?5\3@2C5H2=<Qm>:=6\=@?8 DEC6E49 @7 36249k^2m 7@C C6D:56?ED E@ 6?;@J 2=@?8 E96 pE=2?E:4 4@2DE] %9C@F89 #6249 ~FE #69@3@E9[ E96 4:EJ >2<6D 2? 677@CE E@ =:DE6? E@ k2 9C67lQ9EEADi^^C6249@FE]C69@3@E93624956]8@G^Qm4:E:K6?DV C6BF6DEDk^2m 2?5 4@?E:?F2==J :>AC@G6[ :?4=F5:?8 7:?5:?8 D@=FE:@?D 7@C EC277:4 2?5 FA8C25:?8 DE@C>H2E6C 5C2:?D]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^4C@AA65D9FEE6CDE@4<`cd_gbdaf_fyp";A80_]y!tvQ 2=ElQ':6H @7 >@C?:?8 DF? D9:?:?8 @? y6?D6? q6249]Q E:E=6lQu=@C:52i #:@Q DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?m}@29 s6?D>@C6 ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9amu=@C:52i #:@k^9am
kAm\ }2E:@?2= C2?<i R`k^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pZk^Am
kAm\ !@AF=2E:@?i `[aedk^Am
kAm#:@VD C6=2E:G6=J D>2== D42=6 >2J 2EEC24E C6E:C66D H9@ H2?E E@ >2<6 E96 A@AF=2C ;F>A E@ u=@C:52 3FE 2=D@ 2G@:5 E96 9FDE=6 2?5 3FDE=6 @7 E96 =2C86C 4:E:6D] |@DE 3FD:?6DD6D :? E96 E@H? ?@CE9 @7 !2=> q6249[ u=@C:52[ k2 9C67lQ9EEADi^^5:D4@G6C>2CE:?]4@>^4@>>F?:E:6D^C:@^Qm2C6 AC:G2E6=J @H?65k^2m[ 2?5 H:E9 2 A@AF=2E:@? @7 @?=J `[aed[ C6D:56?ED H@?VE 92G6 E@ DECF88=6 7@C DA246 2E k2 9C67lQ9EEADi^^5:D4@G6C>2CE:?]4@>^>2CE:?\4@F?EJ\362496D^Qm@?6 @7 E96 ?62C3J 362496D @C D2?5 5F?6D]k^2mk^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^4C@AA65D9FEE6CDE@4<`bgh`cdffgb'"&;A80_]y!tvQ 2=ElQp A@?5 :? pG@?52=6 tDE2E6D]Q E:E=6lQv6@C8:2i pG@?52=6 tDE2E6DQ DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?mt=6?2p52?!9@E@8C2A9J ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9amv6@C8:2i pG@?52=6 tDE2E6Dk^9am
kAm\ }2E:@?2= C2?<i R`b_k^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pZk^Am
kAm\ !@AF=2E:@?i b[dadk^Am
kAmpG@?52=6 tDE2E6D H2D k2 9C67lQ9EEADi^^HHH]?:496]4@>^A=246D\E@\=:G6^2G@?52=6\6DE2E6D\56<2=3\82^QmC2?<65 E96 R` A=246 E@ C6E:C6k^2m :? v6@C8:2[ 2?5 :EVD ?@E 92C5 E@ D66 H9J] q6D:56D A62467F= 8C66?6CJ 2?5 :ED 4=@D6 AC@I:>:EJ E@ pE=2?E2[ E96 BF:6E E@H? 92D :ED @H? 2CE 5:DEC:4E 2?5 4@>>F?:EJ @7 2CE:DED]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^fdd`|b(|]A?8Q 2=ElQ|2=F2<2 36249 2E DF?D6E]Q E:E=6lQw2H2:UR_bhj:i (2:=62Q DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?my:C: $@FC2= ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9amw2H2:V:i (2:=62k^9am
kAm\ }2E:@?2= C2?<i Ra[gabk^Am
kAm\ v@@5 7@C C6E:C66D 8C256i p\k^Am
kAm\ !@AF=2E:@?i e[df`k^Am
kAm#6E:C66D :? E96 C6D@CE 4@>>F?:EJ @7 (2:=62 42? ECF=J C6=2I :? =FIFCJ[ 2D k2 9C67lQ9EEADi^^HHH]?:496]4@>^A=246D\E@\=:G6^D62C49^36DE\A=246D\E@\C6E:C6^D^92H2::^Qmw2H2:V:VD AC6>:6Ck^2m C6E:C6>6?E 56DE:?2E:@? 3@2DED FAD42=6 C6DE2FC2?ED[ H@C=5\4=2DD 9@E6=D[ 2?5 362496D] %96 (2:=62 q6249 !2E9 H:?5D 2=@?8 E96 4@2DE[ 4@??64E:?8 2EEC24E:@?D :? E96 2C62 2?5 D9@H42D:?8 @462? G:6HD—E96 C@FE6 >:89E 6G6? :?DA:C6 D@>6 D2:=:?8[ D?@C<6==:?8[ @C D4F32 5:G:?8] xEVD 2=D@ 2 b_\>:?FE6 5C:G6 E@ E96 k2 9C67lQ9EEADi^^2:CA@CED]92H2::]8@G^@88^RiOiE6IElp=@92Ta_2?5Ta_(6=4@>6Ta_E@Ta_E96[3@E9Ta_@G6CD62DTa_2?5Ta_:?E6C:D=2?5Ta_7=:89ED]Qm>2:? 2:CA@CE :? |2F:k^2m 7@C :?E6C:D=2?5 2?5 @G6CD62D 4@??64E:@?D]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^`d_d*d{)]A?8Q 2=ElQr2?@=2 7=@H6C 7:6=5D :? vC2?86G:==6]Q E:E=6lQx529@i vC2?86G:==6Q DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?mr$}27K86C ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9amx529@i vC2?86G:==6k^9am
kAm\ }2E:@?2= C2?<i R`[b_fk^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pk^Am
kAm\ !@AF=2E:@?i b[ccbk^Am
kAmvC2?86G:==6 :D 2 =2:5\324<[ DAC625\@FE 4@>>F?:EJ E92E :D :562= 7@C C6E:C66D H2?E:?8 2 BF:6E6C =:76DEJ=6] w@>6D :? E96 2C62 k2 9C67lQ9EEADi^^HHH]H@C=52E=2D]4@>^4:E:6D^g\3F586E\7C:6?5=J\E@H?D\:?\:529@\7@C\C6E:C66D]9E>=Qm4@DE =6DD E92? E96 DE2E6 2G6C286k^2m[ 4C:>6 C2E6D 2C6 =@H[ 2?5 E96 4@>>F?:EJ :D E:89E\<?:E]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^c`af!fbc]A?8Q 2=ElQ$F>>6C =2?5D42A6 2E r9:428@ q@E2?:4 v2C56?]Q E:E=6lQx==:?@:Di {2<6 u@C6DEQ DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?m|2C4FD t y@?6D ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9amx==:?@:Di {2<6 u@C6DEk^9am
kAm\ }2E:@?2= C2?<i R`d_k^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pZk^Am
kAm\ !@AF=2E:@?i `h[`h_k^Am
kAm#6D:56?ED @7 {2<6 u@C6DE 92G6 4@?G6?:6?46 2?5 9:89\BF2=:EJ 2>6?:E:6D 2E E96:C 7:?86CE:AD[ >2<:?8 :E :562= 7@C C6E:C66D—k2 9C67lQ9EEADi^^HHH]>@G@E@]4@>^8F:56^49:428@\:=^=2<6\7@C6DE\:=\H62=E9J\6?4=2G6\:?\=2<6\4@F?EJ^Qm6DA64:2==J E96 277=F6?Ek^2m[ D:?46 E96 E@H? 92D 2 9:896C\6?5 9@FD:?8 >2C<6E @77D6E 3J k2 9C67lQ9EEADi^^4:EJ@7=2<67@C6DE]4@>^8@G6C?>6?E^E2I0C2E6D]A9AQm=@H AC@A6CEJ E2I6Dk^2m] {@42E:@?\H:D6[ {2<6 u@C6DE @776CD H2E6CD:56 G:6HD @G6C=@@<:?8 E96 {2<6 |:49:82? D9@C6=:?6[ 2?5 r9:428@ :D H:E9:? 2? 9@FCVD 5C:G6] %96 k2 9C67lQ9EEADi^^=7@=2]@C8^Qm{2<6 u@C6DE ~A6? {2?5D pDD@4:2E:@?k^2m :D 2=D@ H@C<:?8 E@ 6?DFC6 2446DD 2?5 AC6D6CG2E:@? @7 E96 2C62VD ?2EFC2= =2?5D42A6D 7@C 86?6C2E:@?D E@ 4@>6]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^cche{s|(]A?8Q 2=ElQ$F?D6E H:E9 5C2>2E:4 4=@F5D @G6C |:49:82? r:EJ t2DE !:6C9625 {:89E9@FD6]Q E:E=6lQx?5:2?2i {@?8 q6249Q DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?mp?5J z@?:64K?J ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9amx?5:2?2i {@?8 q6249k^9am
kAm\ }2E:@?2= C2?<i Rcadk^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pZk^Am
kAm\ !@AF=2E:@?i `[a_`k^Am
kAm%96 BF2:?E E@H? @7 {@?8 q6249 762EFC6D 2 =6?8E9J DEC6E49 @7 {2<6 |:49:82? D9@C6=:?6 :? 2 >@DE=J =2?5=@4<65 DE2E6] %96 E@H? H2D @C:8:?2==J 6DE23=:D965 2D 2 DF>>6C G242E:@? 56DE:?2E:@?[ 3FE 92D D:?46 364@>6 2 J62C\C@F?5 C6D:56?46 H:E9 62DJ 2446DD E@ E96 x?5:2?2 sF?6D }2E:@?2= $62D9@C6[ r9:428@[ 2?5 |:49:82? r:EJ] {:<6 >2?J @E96C C6E:C66 92G6?D[ {@?8 q6249 @776CD 8C62E @AE:@?D 7@C 8@=76CD 2?5 ?2EFC6 =@G6CD[ DF49 2D E96 uC:6?5D9:A q@E2?:4 v2C56?Dj :E 2=D@ 762EFC6D ?F>6C@FD ?@E6H@CE9J 9@>6D 56D:8?65 3J E96 k2 9C67lQ9EEADi^^HHH]=A96C2=55:DA2E49]4@>^4@=F>?:DED^8F6DE04@=F>?:DED^=2\A@CE6\4@F?EJ\DE@C:6D\;@9?\==@J5\HC:89E\=@?8\36249\=:?4@=?\=@8D^2CE:4=60b77_64gf\fe65\dfe4\2g`d\e`ge5deh2a2_]9E>=QmD@? @7 uC2?< {=@J5 (C:89Ek^2m]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^ba:@H2dh)t0da];A8Q 2=ElQ$46?:4 G:6H @7 CFC2= x@H2]Q E:E=6lQx@H2i wF>3@=5EQ DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?m"+ ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9amx@H2i wF>3@=5Ek^9am
kAm\ }2E:@?2= C2?<i Rc_ak^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pZk^Am
kAm\ !@AF=2E:@?i c[fe`k^Am
kAmwF>3@=5E E2<6D AC:56 :? >2<:?8 DFC6 4@>>F?:EJ >6>36CD 766= H6=4@>6[ ?@ >2EE6C H92E 286] %96 E@H?[ =@42E65 :? 46?EC2= x@H2[ 92D 2 k2 9C67lQ9EEADi^^HHH]4:EJ@79F>3@=5E]@C8^56A2CE>6?ED^C64C62E:@?\56A2CE>6?EQmC@3FDE 4@>>F?:EJ 46?E6C[ 2BF2E:4 46?E6C[ 2?5 4@>>F?:EJ 82C56?k^2m[ @776C:?8 7:E?6DD 4=2DD6D[ 4@>>F?2= >66EFAD[ 2?5 DA64:2= 6G6?ED]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^dafh|{q*0_]A?8Q 2=ElQr2?25:2? 866D6 :? DF3FC32? =2<6 :? DAC:?8E:>6Q E:E=6lQz2?D2Di {62H@@5Q DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?my@? zC27E ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9amz2?D2Di {62H@@5k^9am
kAm\ }2E:@?2= C2?<i R`eck^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pZk^Am
kAm\ !@AF=2E:@?i bb[gcck^Am
kAm}:?6 :? E6? C6D:56?ED :? {62H@@5 k2 9C67lQ9EEADi^^HHH]?:496]4@>^A=246D\E@\=:G6^=62H@@5\;@9?D@?\<D^RC62=\6DE2E6\4@?E6?EQm@H? E96:C 9@>6Dk^2m[ 4C62E:?8 2 DE23=6 6?G:C@?>6?E 7@C C6E:C66D] %96 E@H? :D 2=D@ <?@H? 7@C 36:?8 72>:=J\7C:6?5=J[ @776C:?8 @AA@CEF?:E:6D 7@C 962=E9 2?5 7:E?6DD[ 2?5 92G:?8 6I46==6?E D276EJ C2E:?8D] xEVD 2=D@ E96 DE2E6VD E@A DF3FC3 E@ =:G6 :?[ 6DA64:2==J 7@C D6?:@CD[ H:E9 2 k2 9C67lQ9EEADi^^HHH]>@G@E@]4@>^8F:56^<2?D2D\4:EJ\>@^36DE\<2?D2D\4:EJ\DF3FC3D\C6E:C6^Qm9:89 C2E:@ @7 AC24E:4:?8 5@4E@CDk^2m :? E96 2C62]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^__=4h!%`p0b];A8Q 2=ElQr@FA=6 H2=<:?8 @? =2H? :? DF>>6C]Q E:E=6lQz6?EF4<Ji (:?5J w:==DQ DEJ=6lQH:5E9i `__TjQmk7:842AE:@?mk2 9C67lQ9EEAi^^s6?:D!C@5F4E:@?]4@>Qms6?:D!C@5F4E:@?]4@>k^2m ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9amz6?EF4<Ji (:?5J w:==Dk^9am
kAm\ }2E:@?2= C2?<i R`ck^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pZk^Am
kAm\ !@AF=2E:@?i a[`ggk^Am
kAm{@42E65 2 D9@CE 5:DE2?46 7C@> {@F:DG:==6[ (:?5J w:==D :D 2 4:EJ H:E9 2 H62=E9 @7 9:DE@C:4 9@>6D 2?5 AF3=:4 A=246D @776C:?8 62DJ 2446DD E@ ?2EFC6] |@C6@G6C[ k2 9C67lQ9EEADi^^962=E9]FD?6HD]4@>^36DE\D6?:@C\=:G:?8^44C4^<6?EF4<J^H:?5J\9:==DQmD:I 4@?E:?F:?8 42C6 C6E:C6>6?E 9@>6Dk^2m :? E96 (:?5J w:==D 2C62 DFAA@CE >6>36CD @7 E96 DF3FC3VD @=56C A@AF=2E:@?]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^f`eg`a|"]A?8Q 2=ElQp vC62E t8C6E 2E E96 q=F63@??6E $H2>A }2EFC6 r6?E6C]Q E:E=6lQ{@F:D:2?2i ~2< w:==D !=246Q DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?m{J?? |2C66 #@DD ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9am{@F:D:2?2i ~2< w:==D !=246k^9am
kAm\ }2E:@?2= C2?<i Raafk^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pZk^Am
kAm\ !@AF=2E:@?i g[bg_k^Am
kAm~2< w:==D !=246 92D A=6?EJ @7 8C66? DA246 7@C C6D:56?ED E@ 6?;@J H9:=6 DE:== C6>2:?:?8 4=@D6 E@ q2E@? #@F86VD FC32? 9F3] #@F89=J adT @7 E96 E@H?VD C6D:56?ED 2C6 ed 2?5 @=56C[ 2?5 =@42=D 42? 36?67:E 7C@> 92G:?8 D6G6C2= A2C<D H:E9:? `_ >:?FE6D @C =6DD]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^4C@AA65D9FEE6CDE@4<acgaeca_cf_x~z;A80_]y!tvQ 2=ElQp 9:89\2?8=6 G:6H @7 2 92C3@C 7F== @7 5@4<6E 3@2ED :? r2>56?[ |2:?6]Q E:E=6lQ|2:?6i r2>56?Q DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?mzC:D (6DE ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9am|2:?6i r2>56?k^9am
kAm\ }2E:@?2= C2?<i Racdk^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pZk^Am
kAm\ !@AF=2E:@?i d[acbk^Am
kAmr2>56? 92D 2 =2C86 C6E:C66 A@AF=2E:@? WbgT @7 E96 E@H?VD C6D:56?ED 2C6 ed 2?5 @=56CX[ 2?5 E96 C6D@FC46D E96J ?665 E@ =:G6 4@>7@CE23=J] #6D:56?ED @7 E9:D A@AF=2C G242E:@? DA@E 42? 6?;@J r2>56?VD A6C<D J62C\C@F?5[ :?4=F5:?8 ?62C3J >@F?E2:?D[ E96 pE=2?E:4 4@2DE=:?6[ 2?5 2? 23F?52?46 @7 D9@AD[ C6DE2FC2?ED[ 82==6C:6D[ 2?5 >FD6F>D]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^4C@AA65D9FEE6CDE@4<f_`gfe__grha`;A80c]y!tvQ 2=ElQp6C:2= G:6H @7 DF3FC32? 4@>>F?:EJ :? DF>>6C]Q E:E=6lQ|2CJ=2?5i r96GJ r92D6Q DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?mr9C:DE:2? w:?<=6 ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9am|2CJ=2?5i r96GJ r92D6k^9am
kAm\ }2E:@?2= C2?<i Rdak^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pZk^Am
kAm\ !@AF=2E:@?i h[cgck^Am
kAmu@C C6E:C66D H2?E:?8 E@ DE2J 24E:G6[ E96 9:89=J H2=<23=6 r96GJ r92D6 DF3FC3 @776CD >2?J @AA@CEF?:E:6D H:E9:? E96 2C62] xED 6IA2?D:G6 ?2EFC2= 2C62D 2C6 :562= 7@C A656DEC:2?D 2?5 9@CD6324< C:56CD] r96GJ r92D6 92D D:>:=2C 36?67:ED E@ ?62C3J (2D9:?8E@? s]r][ :?4=F5:?8 496CCJ 3=@DD@> EC66D[ 2 ?2EFC6 D2?4EF2CJ[ 9:89\6?5 DE@C6D[ 2?5 k2 9C67lQ9EEADi^^HHH]2A=2467@C>@>]4@>^2DD:DE65\=:G:?8^>2CJ=2?5^496GJ\492D6Qm2DD:DE65 =:G:?8 724:=:E:6Dk^2m]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^4C@AA65D9FEE6CDE@4<`gaaeeaef`ybbh;A80_]y!tvQ 2=ElQr@5 7:D9 H62E96CG2?6 :? r92E92>]Q E:E=6lQ|2DD249FD6EEDi (6DE r92E92>Q DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?m|:4926= $62? ~{62CJ ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9am|2DD249FD6EEDi (6DE r92E92>k^9am
kAm\ }2E:@?2= C2?<i Rgdk^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pZk^Am
kAm\ !@AF=2E:@?i `[bbfk^Am
kAm(6DE r92E92> :D 2 A@AF=2C G242E:@? DA@E[ >62?:?8 E92E C6E:C66D 42? 6?;@J :E J62C\C@F?5] {@42E65 2=@?8 E96 r2A6 r@5 A6?:?DF=2[ :E :D k2 9C67lQ9EEADi^^HHH]492E92>\>2]8@G^c_e^v6@8C2A9JQm9@>6 E@ >F=E:A=6 362496D[ D2?5 5F?6D[ A@?5D[ 2?5 7@C6DEDk^2m[ 4C62E:?8 2 D64=F565[ CFC2= 766=]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^4C@AA65D9FEE6CDE@4<acfaefdfdhe*c";A80_]y!tvQ 2=ElQ$6?:@C H@>2? 2?5 >2? D>:=:?8 2D E96J 5:D6>32C< 7C@> 2 42?@6 @? 2 C:G6C]Q E:E=6lQ|:49:82?i ':==286 @7 vC@DD6 !@:?E6 $9@C6DQ DEJ=6lQH:5E9i `__TjQmk7:842AE:@?mk2 9C67lQ9EEAi^^!6@A=6x>286D]4@>Qm!6@A=6x>286D]4@>k^2m \ *FC: p ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9am|:49:82?i ':==286 @7 vC@DD6 !@:?E6 $9@C6Dk^9am
kAm\ }2E:@?2= C2?<i R`agk^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pZk^Am
kAm\ !@AF=2E:@?i a[dghk^Am
kAmvC@DD6 !@:?E6 $9@C6D[ ;FDE ?@CE9 @7 s6EC@:E[ :D A6C92AD 36DE <?@H? 7@C :ED k2 9C67lQ9EEADi^^HHH]8AD9@C6D>:]8@G^4@>>F?:EJ^:?56I]A9AQmAC:>6 =@42E:@? 2=@?8 D46?:4 {2<6 $E] r=2:Ck^2m] %96 E@H? @776CD DFAA@CE E@ @=56C 4:E:K6?D 2E k2 9C67lQ9EEADi^^96=>=:76]@C8^Qm%96 w6=>[k^2m 2 46?E6C E92E AC@G:56D 7:E?6DD 4=2DD6D[ 82>6D[ 2?5 4@>>F?:EJ 6G6?ED]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^4C@AA65D9FEE6CDE@4<`hcacahebht{`$;A80_]y!tvQ 2=ElQ|6?5@E2 3C:586 DA2??:?8 C:G6C G2==6J]Q E:E=6lQ|:??6D@E2i |6?5@E2 w6:89EDQ DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?my@6 u6CC6C ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9am|:??6D@E2i |6?5@E2 w6:89EDk^9am
kAm\ }2E:@?2= C2?<i R`[_b`k^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pk^Am
kAm\ !@AF=2E:@?i ``[ecck^Am
kAm|6?5@E2 w6:89ED :D 4=@D6 E@ |:??62A@=:D 2?5 $E] !2F= H9:=6 >2:?E2:?:?8 2 D>2==\E@H?[ A62467F= 2E>@DA96C6] u@C @=56C 4:E:K6?D[ E96 E@H?VD !2C<D 2?5 #64C62E:@? 56A2CE>6?E k2 9C67lQ9EEADi^^>6?5@E296:89ED>?]8@G^ab_^$6?:@C\!C@8C2>>:?8Qm@776CD J62C\C@F?5 24E:G:E:6D 2?5 D@4:2= 6G6?EDk^2m[ 6?DFC:?8 =:76 DE2JD 6?828:?8]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^dead")eu]A?8Q 2=ElQ$9@AD =:?6 (2D9:?8E@? pG6?F6 :? ~462? $AC:?8D]Q E:E=6lQ|:DD:DD:AA:i ~462? $AC:?8DQ DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?mr2C>6? z] $:DD@? ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9am|:DD:DD:AA:i ~462? $AC:?8Dk^9am
kAm\ }2E:@?2= C2?<i Rdhdk^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pk^Am
kAm\ !@AF=2E:@?i `g[de`k^Am
kAmx? 255:E:@? E@ 62C?:?8 E96 }:496 C2?<:?8 7@C E96 36DE A=246 E@ C6E:C6 :? |:DD:DD:AA:[ ~462? $AC:?8D 92D 2=D@ 366? ?2>65 E96 k2 9C67lQ9EEADi^^HHH]FD2E@52J]4@>^A:4EFC6\82==6CJ^EC2G6=^`_36DE^2H2C5D^a_aa^_f^`f^`_\36DE\4@2DE2=\D>2==\E@H?D\24C@DD\FD\244@C5:?8\C6256CD^`__chhaf__a^QmE@A 4@2DE2= D>2== E@H?k^2m 3J &$p %@52J] |2J36 E96 E@H?VD 2AA62= =:6D :? E96 EC2?BF:=:EJ @7 E96 DFCC@F?5:?8 H2E6C 2?5 >2CD9=2?5 G:6HD[ @C :? :ED E9C:G:?8[ 9:DE@C:4 5@H?E@H?] ~C A6C92AD C6E:C66D 2C6 5C2H? E@ E96 k2 9C67lQ9EEADi^^D>2CE2DD6E]4@>^C6E:C6>6?E^>:DD:DD:AA:\C6E:C6>6?E\E2I6DQmE2I\7C66 :?46?E:G6D 7@C C6E:C6>6?E :?4@>6k^2m[ @776C65 E9C@F89@FE |:DD:DD:AA:]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^4C@AA65D9FEE6CDE@4<ac`c_ccfaf"'c&;A80_]y!tvQ 2=ElQw2AAJ D6?:@C 4@FA=6 C625:?8 2?5 =@@<:?8 2E 2 =2AE@A H9:=6 D:EE:?8 @? 2 A@C49]Q E:E=6lQ|:DD@FC:i ~2<=2?5Q DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?mx?D:56 rC62E:G6 w@FD6 ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9am|:DD@FC:i ~2<=2?5k^9am
kAm\ }2E:@?2= C2?<i Rc`k^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pZk^Am
kAm\ !@AF=2E:@?i `[e`hk^Am
kAm~2<=2?5 AC@G:56D A=6?EJ @7 @AA@CEF?:E:6D 7@C C6D:56?ED E@ k2 9C67lQ9EEADi^^HHH]@2<=2?5>@]@C8^QmC6=2I 2?5 A=2Jk^2m[ :?4=F5:?8 E9C66 A2C<D H:E9:? 4:EJ =:>:ED 2?5 2 3:<6 EC2:=] (:E9 2 k2 9C67lQ9EEADi^^HHH]?:496]4@>^A=246D\E@\=:G6^@2<=2?5\DE\=@F:D\>@^C62=\6DE2E6^Qm>65:2? C6?E @7 Sa[_eb[k^2m E9:D 2C62 ?62C $E] {@F:D :D C6=2E:G6=J 277@C523=6 2?5 92D 2 k2 9C67lQ9EEADi^^HHH]?:496]4@>^A=246D\E@\=:G6^@2<=2?5\DE\=@F:D\>@^QmCFC2=[ QD>2==\E@H?Q 766=]k^2mk^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^acgddfbr]A?8Q 2=ElQ(9:E67:D9 |@F?E2:? #6D@CE G:6H65 7C@> E96 D9@C6D @7 (9:E67:D9 {2<6]Q E:E=6lQ|@?E2?2i (9:E67:D9Q DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?m}2E92? sF82? ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9am|@?E2?2i (9:E67:D9k^9am
kAm\ }2E:@?2= C2?<i Ra[afek^Am
kAm\ v@@5 7@C C6E:C66D 8C256i p\k^Am
kAm\ !@AF=2E:@?i g[caak^Am
kAm#6E:C66D H:E9 2? 25G6?EFC@FD DA:C:E H:== 36 C:89E 2E 9@>6 :? (9:E67:D9[ 2 C6D@CE E@H? E92E =:6D @? E96 6586 @7 v=24:6C }2E:@?2= !2C< :? E96 #@4<J |@F?E2:?D] %96 E@H? :D H6==\DF:E65 7@C E9@D6 H9@ 6?;@J @FE5@@C 24E:G:E:6D =:<6 >@F?E2:? 3:<:?8[ 9:<:?8[ 7:D9:?8[ 2?5 D<::?8[ E9@F89 9@>6D 42? 36 @? E96 AC:46J D:56] p44@C5:?8 E@ k2 9C67lQ9EEADi^^HHH]C62=E@C]4@>^C62=6DE2E62?59@>6D\D62C49^(9:E67:D90|%^@G6CG:6HQm#62=E@C]4@>k^2m[ 9@FD6D D6== 7@C 2 >65:2? 4@DE @7 Sg__[___]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^deh`!f#!]A?8Q 2=ElQvC2G6= E@FC:?8 3:<6 @? $E62>3@2E %C246 %C2:=]Q E:E=6lQ}63C2D<2i pF3FC?Q DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?m>2C6<F=:2DK ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9am}63C2D<2i pF3FC?k^9am
kAm\ }2E:@?2= C2?<i Rffek^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pk^Am
kAm\ !@AF=2E:@?i b[cegk^Am
kAm%96 E@H? @7 pF3FC? 92D >F=E:A=6 @AE:@?D k2 9C67lQ9EEADi^^2F3FC?]?6]8@G^=:G:?8\:?\2F3FC?^D6?:@C\=:G:?8^Qm7@C 2DD:DE65 2?5 :?56A6?56?E =:G:?8k^2m] qFE 7@C C6E:C66D H9@ H2?E E@ G6?EFC6 @FE >@C6[ E96 3FDE=:?8 z2?D2D r:EJ[ ~>292[ 2?5 {:?4@=? >6EC@ 2C62D 2C6?VE 72C] pF3FC? :ED6=7 92D 2 5:D4 8@=7 4@FCD6[ 2 G2C:6EJ @7 3@FE:BF6 D9@AD[ 2?5 @FE5@@C C64C62E:@? 2=@?8 sF4< rC66<]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^4C@AA65D9FEE6CDE@4<`e``e__f`a"*we;A80_]y!tvQ 2=ElQp 9:89\2?8=6 G:6H @7 72== 4@=@CD @? E96 z:?8D3FCJ vC256]Q E:E=6lQ}6G252i z:?8D3FCJQ DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?mp?5C@?:@ !C@5F4E:@?D ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9am}6G252i z:?8D3FCJk^9am
kAm\ }2E:@?2= C2?<i R`bbk^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pZk^Am
kAm\ !@AF=2E:@?i a[`edk^Am
kAm!6C4965 23@G6 {2<6 %29@6 :? E96 962CE @7 E96 $:6CC2 }6G252 >@F?E2:?D[ z:?8D3FCJ :D H:E9:? C6249 @7 2== @7 E96 2C62VD 36DE E@FC:D> D:E6D[ H:E9@FE E96 9:89 AC:46D 2?5 4C@H5D] }62C3J :D }@CE9 p>6C:42VD =2C86DE 4@?46?EC2E:@? @7 D<: C6D@CED[ :?4=F5:?8 w62G6?=J $<: #6D@CE[ 2D H6== 2D =2<6 24E:G:E:6D[ 362496D[ 2?5 42D:?@D]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^_f_bput!]A?8Q 2=ElQu2C> :? CFC2= }6H w2>AD9:C6]Q E:E=6lQ}6H w2>AD9:C6i q6E9=696>Q DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?mp=36CE !68@ ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9am}6H w2>AD9:C6i q6E9=696>k^9am
kAm\ }2E:@?2= C2?<i Rcg`k^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pk^Am
kAm\ !@AF=2E:@?i a[dabk^Am
kAmq6E9=696>VD >@EE@ :D Qk2 9C67lQ9EEADi^^HHH]H@C=52E=2D]4@>^4:E:6D^``\36DE\?6H\92>AD9:C6\E@H?D\7@C\C6E:C66D]9E>=QmyFDE q6k^2m[Q 2?5 C6E:C66D H9@ G2=F6 @FE5@@C 25G6?EFC6 2?5 DEC@?8 4@>>F?:EJ G2=F6D >:89E H2?E E@ Q;FDE 36Q E96C6] %9@F89 E96 G:==286 :D ?6DE=65 :? E96 (9:E6 |@F?E2:?D—;FDE @77 E96 pAA2=249:2? %C2:=—E96 4=@D6DE C68:@?2= 9@DA:E2= :D @?=J `_ >:=6D 2H2J] q6E9=696> :D :562= 7@C E9@D6 H9@ H2?E 2 BF:6E =:76[ 3FE J62C\C@F?5 =@42= 6G6?ED >2<6 4@>>F?:EJ 4@??64E:@? 62DJ]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^g_gftd}g]A?8Q 2=ElQp6C:2= G:6H @7 (2E49F?8 2?5 DFCC@F?5:?8]Q E:E=6lQ}6H y6CD6Ji |@F?E2:?D:56Q DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?mu@E@Du@C%96uFEFC6 ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9am}6H y6CD6Ji |@F?E2:?D:56k^9am
kAm\ }2E:@?2= C2?<i Rgbk^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pZk^Am
kAm\ !@AF=2E:@?i e[hefk^Am
kAm#6E:C66D :? |@F?E2:?D:56 42? 6?;@J 2 DF3FC32? =:76DEJ=6 DFCC@F?565 3J ?2EFC6] $6?:@CD 2C6 H6==\DFAA@CE65[ H:E9 2 k2 9C67lQ9EEADi^^HHH]>@F?E2:?D:56\?;]4@>^D6?:@CQm56D:8?2E65 4@@C5:?2E@Ck^2m H9@ =:?<D C6D:56?ED E@ DA64:2= D6CG:46D DF49 2D EC2?DA@CE2E:@?[ >62= 56=:G6CJ[ @C A2CE:4:A2E:@? :? E96 |@F?E2:?D:56 p4E:G6 #6E:C66D 8C@FA] %96 2C62 @776CD k2 9C67lQ9EEADi^^HHH]4@?E:?F:?842C64@>>F?:E:6D]@C8^2DD:DE65\=:G:?8^?6H\;6CD6J^>@F?E2:?D:56]9E>=Qma_ D6?:@C =:G:?8 4@>>F?:E:6Dk^2m[ H9:49 :?4=F56 2DD:DE65 2?5 D6?:@C =:G:?8 2D H6== 2D >6>@CJ 42C6]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^4C@AA65D9FEE6CDE@4<`ghg_abeeb%ghf;A80_0_]y!tvQ 2=ElQp G:DE2 @7 EC66D[ >@F?E2:?D[ 2?5 9:==D]Q E:E=6lQ}6H |6I:4@i $2?5:2 w6:89EDQ DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?mz2C= r@I ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9am}6H |6I:4@i $2?5:2 w6:89EDk^9am
kAm\ }2E:@?2= C2?<i Rc`hk^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pZk^Am
kAm\ !@AF=2E:@?i b[_gbk^Am
kAm(:E9 2 k2 9C67lQ9EEADi^^H62E96CDA2C<]4@>^J^bbbg^pG6C286\(62E96C\:?\$2?5:2\w6:89ED\}6H\|6I:4@\&?:E65\$E2E6D\*62C\#@F?5QmH2C>[ 5CJ 4=:>2E6k^2m 2?5 2? 2G6C286 9:89 E6>A6C2EFC6 @7 gg 568C66D u29C6?96:E[ $2?5:2 w6:89ED :D E96 A6C764E =@42=6 E@ 32D< :? E96 DF?] %96 ?62C3J k2 9C67lQ9EEADi^^D2?5:2A62<]4@>^Qm$2?5:2 !62< %C2>H2Jk^2m :D E96 =@?86DE :? E96 p>6C:42D 2?5 @776CD DA64E24F=2C G:6HD @7 E96 $2?5:2 |@F?E2:?D[ H96C6 C6D:56?ED 42? 2=D@ 6?;@J 3:<:?8[ 9:<:?8[ 2?5 @E96C @FE5@@C C64C62E:@?]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^cc_ceh#!]A?8Q 2=ElQ{@?8 xD=2?5 v@=5 r@2DE $F>>6C $46?6]Q E:E=6lQ}6H *@C<i {2<6 $F446DDQ DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?my@D6 u] s@??6JD ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9am}6H *@C<i {2<6 $F446DDk^9am
kAm\ }2E:@?2= C2?<i Rek^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pZk^Am
kAm\ !@AF=2E:@?i a[g`fk^Am
kAm%9:D {@?8 xD=2?5 DA@E 6?;@JD 2 k2 9C67lQ9EEADi^^HHH]36DEA=246D]?6E^4:EJ^?6H0J@C<^=2<60DF446DDQmC62D@?23=6 4@DE @7 =:G:?8k^2m[ 6DA64:2==J 4@?D:56C:?8 :E :D @?=J 2 DE@?6VD E9C@H 7C@> 5@H?E@H? }6H *@C< r:EJ] {2<6D 4@G6C k2 9C67lQ9EEADi^^G:==286@7=2<6DF446DD]4@>^9:DE@CJ]A9AQmcb 24C6D @7 {2<6 $F446DDk^2m[ AC@G:5:?8 2 A62467F=[ CFC2= 92G6? H96C6 C6D:56?ED 42? DA@E 7:D9 2?5 7@H=] }@ 7:D9:?8 @C 3@2E:?8 :D 2==@H65[ 7FCE96C >2:?E2:?:?8 E96 BF:6E 2E>@DA96C6]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^4C@AA65D9FEE6CDE@4<`dbhchhga|re$;A80c]y!tvQ 2=ElQ(2E6C7C@?E 9@>6D 3J >2C:?2 :? DF>>6C]Q E:E=6lQ}@CE9 r2C@=:?2i $E] y2>6DQ DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?ms2G:5 qJC@? z66?6C ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9am}@CE9 r2C@=:?2i $E] y2>6Dk^9am
kAm\ }2E:@?2= C2?<i Rafk^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pZk^Am
kAm\ !@AF=2E:@?i e[h_`k^Am
kAm$E] y2>6D k2 9C67lQ9EEADi^^HHH]E@H?@7DE;2>6D?4]@C8^p3@FE&DQm=:6D 2=@?8 E96 pE=2?E:4 x?EC24@2DE2= (2E6CH2Jk^2m[ H96C6 C6D:56?ED 42? 6?;@J <2J2<:?8[ 2 >2C:?2[ H2=<:?8 2?5 3:<:?8 EC2:=D[ 2?5 A:4<=632==] %96 4:EJ 92D 2 C6D@CE\=:<6 766= 2?5 3@2DED 2 =2C86 A2G:=:@? 2?5 2>A9:E962E6C[ E96 D6EE:?8 7@C D6G6C2= 4@>>F?:EJ 6G6?ED]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^bhc`"#_h]A?8Q 2=ElQr@FA=6 9:<:?8 @? CFC2= EC2:=]Q E:E=6lQ}@CE9 s2<@E2i '2==6J r:EJQ DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?m336C?2C5 ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9am}@CE9 s2<@E2i '2==6J r:EJk^9am
kAm\ }2E:@?2= C2?<i Ra[fdgk^Am
kAm\ v@@5 7@C C6E:C66D 8C256i p\k^Am
kAm\ !@AF=2E:@?i e[ddck^Am
kAm'2==6J r:EJ 9F8D E96 $96J6??6 #:G6C 2?5 :D 9@>6 E@ E96 H2=<23=6 w:89=:?6 qC:586[ @?6 @7 E96 4@F?ECJVD 9:896DE 2?5 =@?86DE D:?8=6\EC24< C2:=C@25 3C:586D] %96 '2==6J r:EJ 2C62 92D 24E:G:E:6D 7@C E96 8C2?5<:5D[ =:<6 2 H2E6CA2C< 2?5 A=2?6E2C:F>[ 2?5 2 3C6H6CJ 2?5 H:?6C:6D 7@C E96 @=56C 7@=<D] }@CE9 s2<@E2 :D 2=D@ k2 9C67lQ9EEADi^^HHH]D6?:@C=J]4@>^C6D@FC46\46?E6C^D6?:@C=J\?6HD^36DE\2?5\H@CDE\DE2E6D\7@C\28:?8\:?\A=246QmC2?<65 2D E96 D64@?5\36DE DE2E6 E@ 286 :? A=246k^2m 3J $6?:@C=J]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^a_f`|sqe]A?8Q 2=ElQr@FA=6 H2=<:?8 :? A2C<]Q E:E=6lQ~9:@i %96 ':==286 @7 x?5:2? w:==Q DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?m$EF5:@ #@>2?E:4 ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9am~9:@i %96 ':==286 @7 x?5:2? w:==k^9am
kAm\ }2E:@?2= C2?<i Rad`k^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pZk^Am
kAm\ !@AF=2E:@?i e[_cgk^Am
kAmx?5:2? w:==VD C6D:56?ED 92G6 4C62E65 2 k2 9C67lQ9EEADi^^HHH]G:D:E4:?4J]4@>^=:DE:?8^G:==286\@7\:?5:2?\9:==^da__^QmQDEC@?8 D6?D6 @7 9:DE@CJ 2?5 4@>>F?:EJQk^2m H:E9:? E96 E@H?VD a_ DBF2C6 >:=6D H9:=6 DE:== C6>2:?:?8 4=@D6 6?@F89 E@ A2CE:4:A2E6 :? r:?4:??2E:VD FC32? =:76] %96 G:==286 :?4=F56D fd >:=6D @7 3C:5=6 EC2:=D 7@C 9@CD6324< C:5:?8 2?5 E96 k2 9C67lQ9EEADi^^:?5:2?9:==]8@G^C64C62E:@?^8C2?5\G2==6J^QmvC2?5 '2==6J !C6D6CG6k^2m[ H96C6 C6D:56?ED 42? 42E49 2 8=:>AD6 @7 =@42= H:=5=:76]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^dhad!t+c]A?8Q 2=ElQqFD:?6DD 5:DEC:4E @? vC2?5 pG6?F6 :? t?:5]Q E:E=6lQ~<=29@>2i }@CE9 t?:5Q DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?m#@36CE@ v2=2? ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9am~<=29@>2i }@CE9 t?:5k^9am
kAm\ }2E:@?2= C2?<i Rchhk^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pk^Am
kAm\ !@AF=2E:@?i `[`efk^Am
kAm#6E:C66D =@@<:?8 E@ D2G6 >@?6J >:89E H2?E E@ 4@?D:56C ~<=29@>2[ H9:49 2 yF?6 a_ad DEF5J 7C@> ':DF2= r2A:E2=:DE C2?<65 2D E96 D64@?5\36DE k2 9C67lQ9EEADi^^HHH]G:DF2=42A:E2=:DE]4@>^>2AA65\2??F2=\C6E:C6>6?E\4@DED\3J\DE2E6^QmDE2E6 7@C 277@C523:=:EJk^2m[ H:E9 2? 2??F2= =:G:?8 4@DE @7 ;FDE Se_[___] %96 2C62 2=D@ @776CD 2 ?FCD:?8 724:=:EJ H:E9 2 8@@5 C6AFE2E:@? 7@C D<:==65 ?FCD:?8 42C6[ >6>@CJ 42C6[ 2?5 C6923:=:E2E:@?] }@CE9 t?:5 :D 2=D@ <?@H? 3J C6D:56?ED E@ 92G6 2 72>:=J\@C:6?E65[ k2 9C67lQ9EEADi^^HHH]?:496]4@>^A=246D\E@\=:G6^?@CE9\6?:5\82C7:6=5\@<^RC6G:6HD\4@?E6?EQmE:89E\<?:E 4@>>F?:EJk^2m]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^fhe`|}eh]A?8Q 2=ElQq6249 8C2DD6D 2=@?8 E96 !24:7:4 4@2DE :? ?@CE96C? ~C68@?]Q E:E=6lQ~C68@?i v62C92CEQ DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?mp>J z r2D:==2D ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9am~C68@?i v62C92CEk^9am
kAm\ }2E:@?2= C2?<i Rfggk^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pk^Am
kAm\ !@AF=2E:@?i `[hdhk^Am
kAm%96 D>2== E@H? @7 v62C92CE D:ED 2>@?8 E96 5F?6D ?62C E96 !24:7:4 ~462?] $6?:@CD H9@ H2?E E@ DE2J 24E:G6 92G6 D6G6C2= @AE:@?Di 8@=7:?8[ 9:<:?8[ 2?5 2? 6DEF2CJ 7@C 3:C5H2E49:?8[ ?@E E@ >6?E:@? D6G6C2= D627@@5 C6DE2FC2?ED] %96 DE2E6 @7 ~C68@? @776CD 2 G2C:6EJ @7 D6CG:46D 7@C 28:?8 A@AF=2E:@?D[ :?4=F5:?8 2 AC@8C2> 7@C @=56C A6@A=6 H9@ k2 9C67lQ9EEADi^^HHH]8@@8=6]4@>^24=<nD2l{U2>Aj2:lsr9D$tH:}>*(%H}a!pI'5#Ggqw*+<~x<*prxrrpt"pq@r3("U2>Aj4@l`U2>Aj2D6laU2>Aj84=:5lr;Hzrp;H=2%vq9p}t:Hp@#8)q%r;:d;xdca4hpwf:8%{%#4+@a$<dx9tKpDHh"?E_C#&\w}v2H||q#@rr)H"pGs0qHtU2>Aj446laU2>Aj42E68@CJl24C4A0G`0baU2>AjD:8lp~sec0a@B8u_Jt*$'p<5=a+::4dr`3t#0"U2>AjBU2>Aj?:DlcU2>Aj25FC=U2>AjG65la29&ztH:E9!>$H}a!pI(<HGprw"b#u3_"_"Ieqp8*tptQmD66< :?56A6?56?E =:G:?8k^2m 3FE 2C6?VE BF2=:7:65 7@C =@?8\E6C> 42C6 36?67:ED E9C@F89 |65:42:5]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^`__`vher]A?8Q 2=ElQ$46?:4 G:6H 7C@> w2H< |@F?E2:? $2?4EF2CJ :? q6C<D r@F?EJ]Q E:E=6lQ!6??DJ=G2?:2i ~CH:8D3FC8Q DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?m+24< uC2?< ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9am!6??DJ=G2?:2i ~CH:8D3FC8k^9am
kAm\ }2E:@?2= C2?<i R`ghk^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pZk^Am
kAm\ !@AF=2E:@?i b[__ck^Am
kAm~CH:8D3FC8 @776CD 2 BF:6E[ H6=4@>:?8[ 2?5 D276 A=246 E@ =:G6] %96 2C62 :D H6==\4@??64E65 3J :?E6CDE2E6 9:89H2JD[ 2?5 H:E9:? 4:EJ =:>:ED[ ~CH:8D3FC8 92D 2 G2C:6EJ @7 k2 9C67lQ9EEADi^^@CH:8D3FC8]8@G^Qm4@>>F?:EJ\@C82?:K65 6G6?EDk^2m 2?5 D6?:@C D6CG:46D] %96 E@H? :D 2=D@ 9@>6 E@ v6:D:?86C $E] {F<6VD w@DA:E2=[ 2? 24FE6\42C6 724:=:EJ E92E 9@=5D 2 k2 9C67lQ9EEADi^^86:D:?86CDE=F<6D]@C8^QmAC:>2CJ DEC@<6 46?E6C 244C65:E2E:@?k^2m]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^abddzvhy]A?8Q 2=ElQq62G6CE2:= $E2E6 !2C< 26C:2= G:6H :? DF>>6C]Q E:E=6lQ#9@56 xD=2?5i y2>6DE@H?Q DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?m(2?8<F? y:2 ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9am#9@56 xD=2?5i y2>6DE@H?k^9am
kAm\ }2E:@?2= C2?<i Rdfgk^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pk^Am
kAm\ !@AF=2E:@?i d[dcdk^Am
kAm{@42E65 2=>@DE 6?E:C6=J @? r@?2?:4FE xD=2?5[ E96 FAD42=6 4@>>F?:EJ @7 y2>6DE@H? 3@2DED D46?:4 DFCC@F?5:?8D H:E9 G:6HD @G6C }2CC282?D6EE q2J] q@2E6CD 2?5 D4F32 5:G6CD H@F=5 36 2E 9@>6 :? y2>6DE@H?[ 2?5 62DJ 2446DD E@ !C@G:56?46 2?5 q@DE@? 4@??64ED E9:D D>2== 4@>>F?:EJ E@ 4:EJ 24E:G:E:6D 2?5 >@C6 C@3FDE 962=E9 42C6] y2>6DE@H?VD k2 9C67lQ9EEADi^^C:6=56C:?7@]4@>^;2>6DE@H?^QmD6?:@C D6CG:46Dk^2m :?4=F56 2 D6?:@C 46?E6C 2?5 DFAA@CE 7@C 9@FD:?8[ EC2?DA@CE2E:@?[ 2?5 k2 9C67lQ9EEADi^^7C:6?5D@7;2>6DE@H?D6?:@CD]4@>^23@FE\FD^Qm:?56A6?56?E =:G:?8k^2m]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^ga_dv}{&0_]A?8Q 2=ElQ{:89E9@FD6 2?5 3@2ED @? w:=E@? w625 xD=2?5]Q E:E=6lQ$@FE9 r2C@=:?2i w:=E@? w625 xD=2?5Q DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?mu@E@8C@ ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9am$@FE9 r2C@=:?2i w:=E@? w625 xD=2?5k^9am
kAm\ }2E:@?2= C2?<i Rh_k^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pZk^Am
kAm\ !@AF=2E:@?i bf[g_dk^Am
kAmw:=E@? w625 xD=2?5 :D 2 ECF=J =FIFC:@FD A=246 E@ C6E:C6] xE 762EFC6D `a >:=6D @7 36249[ :4@?:4 8@=7 4@FCD6D[ E6??:D 4@FCED[ 2?5 2? 2CED 46?E6C 4@>A=6E6 H:E9 2 =@42= DJ>A9@?J] w:=E@? w625 :D 2=D@ 9@>6 E@ 6?52?86C65 D62 EFCE=6D E92E ?6DE 3J E96 @462?[ 2?5 E96 H62E96C C2?86D 7C@> ca E@ gh 568C66D J62C\C@F?5] %96 9@FD:?8 >2C<6E :D 6IA6?D:G6[ 3FE E96 DE2E6 @7 $@FE9 r2C@=:?2 5@6D ?@E E2I $@4:2= $64FC:EJ 36?67:ED 2?5 @?=J A2CE:2==J E2I6D C6E:C6>6?E :?4@>6]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^edc``p|v]A?8Q 2=ElQ|2EFC6 4@FA=6 H:E9 A24<A24<D =@@<:?8 2E DF?D6E]Q E:E=6lQ$@FE9 s2<@E2i |:=32?<Q DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?m+@C2? !F42C6G:4 ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9am$@FE9 s2<@E2i |:=32?<k^9am
kAm\ }2E:@?2= C2?<i Rfbbk^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pk^Am
kAm\ !@AF=2E:@?i b[d`bk^Am
kAm|:=32?<[ =@42E65 :? 62DE6C? $@FE9 s2<@E2[ :D A6C764E 7@C E9@D6 D66<:?8 2 BF:6E[ D:>A=6 =:76 A@DE\C6E:C6>6?E] (:E9 DF49 2 D>2== A@AF=2E:@?[ E96 4@>>F?:EJ E6?5D E@ 36 E:89E\<?:E] %96C6 2C6 2 k2 9C67lQ9EEADi^^HHH]>:=32?<D5]4@>^4:EJ\@7\>:=32?<^4:EJ\56A2CE>6?ED^4:EJ\A2C<D^QmG2C:6EJ @7 A2C<D 2?5 8C66? DA246Dk^2m H96C6 C6D:56?ED 42? E2<6 A2CE :? 4@>>F?:EJ 4=F3D 2?5 24E:G:E:6D[ :?4=F5:?8 A:4<=632==[ 32D<6E32==[ H2=<:?8[ 32D632==[ 2?5 >F49 >@C6]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^4C@AA65D9FEE6CDE@4<abghcgf_``uddg;A80_]y!tvQ 2=ElQ%96 `a\!@F?5 }2A@=6@? r2??@? 2E {@@<@FE |@F?E2:?]Q E:E=6lQ%6??6DD66i {@@<@FE |@F?E2:?Q DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?m#2?5J #F?ED49 ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9am%6??6DD66i {@@<@FE |@F?E2:?k^9am
kAm\ }2E:@?2= C2?<i R`cck^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pZk^Am
kAm\ !@AF=2E:@?i a[``ak^Am
kAm{@@<@FE |@F?E2:?VD ?2>6D2<6 AC@G:56D 2 H62=E9 @7 ?2EFC2= 362FEJ 2?5 24E:G:E:6D 7@C =@42= C6D:56?ED[ :?4=F5:?8 k2 9C67lQ9EEADi^^HHH]=@@<@FE>@F?E2:?]4@>^CF3J\72==D^Qm#F3J u2==Dk^2m[ E96 E2==6DE F?56C8C@F?5 H2E6C72== :? E96 4@F?ECJ] yFDE 2 76H >:=6D 2H2J 7C@> E96 3:8\4:EJ 2>6?:E:6D @7 r92EE2?@@82[ %6??6DD66[ E96C6 2C6 2=D@ 2 G2C:6EJ @7 9:<:?8 C@FE6D 2?5 3:<:?8 EC2:=D]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^cbf`}hhu]A?8Q 2=ElQ$F?C:D6 @G6C r=62C {2<6 2?5 v2=G6DE@? q2J]Q E:E=6lQ%6I2Di %2J=@C {2<6 ':==286Q DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?mp:CH2G6 sJ?2>:4D ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9am%6I2Di %2J=@C {2<6 ':==286k^9am
kAm\ }2E:@?2= C2?<i Rcck^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pZk^Am
kAm\ !@AF=2E:@?i b[efgk^Am
kAm}62C w@FDE@? 2?5 v2=G6DE@? q2J[ %2J=@C {2<6 ':==286 C6D:56?ED AC:56 E96>D6=G6D @? E96:C k2 9C67lQ9EEADi^^HHH]E2J=@C=2<6G:==286]FD^23@FEQmG@=F?E66C:D> 2?5 4:E:K6?CJk^2m[ A6C92AD 3642FD6 k2 9C67lQ9EEADi^^HHH]?:496]4@>^A=246D\E@\=:G6^E2J=@C\=2<6\G:==286\92CC:D\EI^QmheT @7 E96 A@AF=2E:@? 2C6 9@>6@H?6CDk^2m] %96 E@H? 92D 2 k2 9C67lQ9EEADi^^962=E9]FD?6HD]4@>^36DE\D6?:@C\=:G:?8^=@42E:@?^E2J=@C\=2<6\G:==286\EIQmDE2886C:?8 ba D6?:@C =:G:?8 4@>>F?:E:6Dk^2m[ 2?5 C6D:56?ED 42? 2=D@ 4@??64E H:E9 @?6 2?@E96C :? %2J=@C {2<6 ':==286VD >2?J A2C<D 2?5 C6DE2FC2?ED] #6E:C66D 42? 2=D@ <66A 6IA6?D6D =@H[ D:?46 %6I2D 5@6D?VE 492C86 2 DE2E6 :?4@>6 E2I]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^4C@AA65D9FEE6CDE@4<a_`fg_fdbg!_!w;A80_0_]y!tvQ 2=ElQ%96 6?EC2?46 E@ E96 %F2429? p>A9:E962EC6 H:E9 A6@A=6 H2=<:?8 :? 2?5 @FE]Q E:E=6lQ&E29i xG:?DQ DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?mz:E {6@?8 ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9am&E29i xG:?Dk^9am
kAm\ }2E:@?2= C2?<i R`[`hfk^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pk^Am
kAm\ !@AF=2E:@?i h[dack^Am
kAmxEVD 92C5 E@ 362E xG:?DVD ?2EFC2= 362FEJ] %96 E@H? :D DFCC@F?565 3J E96 A:4EFC6DBF6 #65 |@F?E2:? H:=56C?6DD 2?5 :D 4=@D6 E@ +:@? }2E:@?2= !2C<] %96 E@H? >2:?E2:?D 2 DEC@?8 D6?D6 @7 4@>>F?:EJ AC:56[ H:E9 EH@ 2??F2= w6C:E286 s2JD 46=63C2E:?8 xG:?DV 9:DE@CJ 2?5 4=@D6\<?:E C6=2E:@?D9:AD 36EH66? C6D:56?ED]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^`f_a|b)~]A?8Q 2=ElQ$F? C:D:?8 @G6C E96 vC66? >@F?E2:?D 7C@> $96=3FC?6 u2C>D]Q E:E=6lQ'6C>@?Ei $96=3FC?6Q DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?mG6C>@?E2=> ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9am'6C>@?Ei $96=3FC?6k^9am
kAm\ }2E:@?2= C2?<i R`[efhk^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pk^Am
kAm\ !@AF=2E:@?i f[g_fk^Am
kAm~? E96 D9@C6D @7 {2<6 r92>A=2:? D:ED E96 EC2?BF:= E@H? @7 $96=3FC?6[ <?@H? 7@C :ED H6=4@>:?8 4@>>F?:EJ 2?5 A=6?E:7F= @FE5@@C C64C62E:@?] $96=3FC?6 @776CD 2== E96 ?646DD2CJ 2>6?:E:6D[ :?4=F5:?8 A92C>24:6D 2?5 2 H6==\DE@4<65 8C@46CJ DE@C6[ 2=@?8 H:E9 C6DE2FC2?ED 2?5 4276D] %96 E@H? :D 2=D@ 9@>6 E@ @?6 @7 E96 k2 9C67lQ9EEADi^^=4J4]:?7@^4=F3^9:DE@CJ^7@F?5:?8DQm@=56DE J249E 4=F3Dk^2m :? E96 4@F?ECJ 2?5 E96 `[c__\24C6 $96=3FC?6 u2C>D 6DE2E6 2?5 @A6?\2:C >FD6F>]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^4C@AA65D9FEE6CDE@4<acdh`bahbd$!%h;A80_]y!tvQ 2=ElQw2?5D @7 2? 6=56C=J H@>2? A=2?E:?8 2 J@F?8 A=2?E :?E@ E96 D@:=]Q E:E=6lQ':C8:?:2i #@4<H@@5Q DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?m!9@E@yF=:ge ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9am':C8:?:2i #@4<H@@5k^9am
kAm\ }2E:@?2= C2?<i R`_hk^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pZk^Am
kAm\ !@AF=2E:@?i g[gbck^Am
kAm(:E9 k2 9C67lQ9EEADi^^HHH]36DEA=246D]?6E^4=:>2E6^4:EJ^G:C8:?:2^C@4<H@@5QmH2C> DF>>6CD[ >:=5 H:?E6CD[ 2?5 86?6C2==J =@H D?@H72==k^2m[ #@4<H@@5 :D 2 E6>A6C2E6 A=246 E@ =:G6] p4E:G:E:6D 42? 4@?E:?F6 J62C\C@F?5 H:E9@FE 86EE:?8 H62E96C65 @FE] %96 E@H? :D k2 9C67lQ9EEADi^^HHH]36DEA=246D]?6E^4:EJ^G:C8:?:2^C@4<H@@5QmDFCC@F?565 3J E96 pAA2=249:2? |@F?E2:?Dk^2m[ AC@G:5:?8 6?5=6DD @AA@CEF?:E:6D 7@C 9:<:?8[ 7:D9:?8[ 42>A:?8[ 3:<:?8[ 2?5 @E96C @FE5@@C 24E:G:E:6D]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^ad`hx&fh]A?8Q 2=ElQ$6?:@C 4@FA=6 H2=<:?8 2?5 9@=5:?8 92?5D @FE5@@CD]Q E:E=6lQ(2D9:?8E@?i r=J56 w:==Q DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?mA:4D 7:G6 ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9am(2D9:?8E@?i r=J56 w:==k^9am
kAm\ }2E:@?2= C2?<i Rbf_k^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pZk^Am
kAm\ !@AF=2E:@?i b[`_ck^Am
kAmr=J56 w:== 3@2DED 2? 6?G:23=6 A@D:E:@?i k2 9C67lQ9EEADi^^HHH]4=J569:==]@C8^QmxED =@42E:@? AC@G:56D G:6HDk^2m @7 {2<6 (2D9:?8E@?[ |@F?E #2:?:6C[ E96 ~=J>A:4 |@F?E2:?D[ E96 r2D4256 |@F?E2:?D[ 2?5 E96 $62EE=6 D<J=:?6[ 2== 2E @?46] %96 E@H? :D k2 9C67lQ9EEADi^^5@H?E@H?36==6GF6]4@>^a_ac^_`^_b^6IA=@C:?8\4=J56\9:==\36==6GF6D\?6:893@C9@@5\86>\G:6HD\9:DE@CJ^Qm4=@D6 E@ 3@E9 $62EE=6 2?5 q6==6GF6k^2m[ AC@G:5:?8 FC32? 2>6?:E:6D H:E9@FE D24C:7:4:?8 D@>6 ECF=J 3C62E9E2<:?8 CFC2= D:89ED]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^`d%wt_0`];A8Q 2=ElQ{2<6 $F>>6CDG:==6 @G6C=@@< @? DF??J 52J]Q E:E=6lQ(6DE ':C8:?:2i $F>>6CDG:==6Q DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?my:> '2==66 ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9am(6DE ':C8:?:2i $F>>6CDG:==6k^9am
kAm\ }2E:@?2= C2?<i R`hhk^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pZk^Am
kAm\ !@AF=2E:@?i b[bhfk^Am
kAm$F>>6CDG:==6 4@?E2:?D (6DE ':C8:?:2VD k2 9C67lQ9EEADi^^DF>>6CDG:==6HG]@C8^Qm=2C86DE =2<6k^2m[ H:E9 e_ >:=6D @7 D9@C6=:?6 2G2:=23=6 7@C DH:>>:?8[ A255=63@2C5:?8[ 3@2E:?8[ 7:D9:?8[ 2?5 >F49 >@C6] %96 E@H? :D @?=J aa >:=6D 7C@> E96 72>65 k2 9C67lQ9EEADi^^HHH]?AD]8@G^?6C:^:?56I]9E>Qm}6H #:G6C v@C86 }2E:@?2= !2C<k^2m[ AC@G:5:?8 6G6? >@C6 @AA@CEF?:EJ 7@C C6D:56?ED E@ H96E E96:C @FE5@@C 2AA6E:E6D 2=@?8 @?6 @7 E96 @=56DE C:G6CD :? }@CE9 p>6C:42]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^eag`{)0`];A8Q 2=ElQq@2E =2F?49 @? v6?6D66 {2<6 :? (2F<6D92 r@F?EJ]Q E:E=6lQ(:D4@?D:?i t=> vC@G6Q DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?my6??:76C %6AA ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9am(:D4@?D:?i t=> vC@G6k^9am
kAm\ }2E:@?2= C2?<i Ra_hk^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pZk^Am
kAm\ !@AF=2E:@?i e[cagk^Am
kAmt=> vC@G6[ =@42E65 ;FDE H6DE @7 |:=H2F<66[ 92D 2 G2C:6EJ @7 k2 9C67lQ9EEADi^^6=>8C@G6H:]@C8^hb^r@>>F?:EJ\!C@;64EDQm24E:G6 4@>>F?:EJ AC@;64EDk^2m E@ 4@?E:?F2==J 6?DFC6 E96 E@H? :D 4@>7@CE23=6[ 4=62?[ 2?5 6?E6CE2:?:?8 7@C :ED C6D:56?ED[ aaT @7 H9@> 2C6 ed 2?5 @=56C] %96D6 AC@;64ED :?4=F56 C6@A6?:?8 &?56CH@@5 rC66< 2?5 3F:=5:?8 ?6H[ >@56C? 2A2CE>6?ED 2E r2C@=:?6 w6:89ED]k^Am
k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^feaawec{]A?8Q 2=ElQ%96 q:89@C? #:G6C 8@:?8 E9C@F89 w@E $AC:?8D $E2E6 !2C< :? %96C>@A@=:D]Q E:E=6lQ(J@>:?8i %96C>@A@=:DQ DEJ=6lQH:5E9i `__TjQ ^mk7:842AE:@?m>6=:DD2>? ^^ $9FEE6CDE@4<k^7:842AE:@?mk^7:8FC6m
k9am(J@>:?8i %96C>@A@=:Dk^9am
kAm\ }2E:@?2= C2?<i Rbedk^Am
kAm\ v@@5 7@C C6E:C66D 8C256i pZk^Am
kAm\ !@AF=2E:@?i a[f`ek^Am
kAm%96C>@A@=:D 2=>@DE D@F?5D =:<6 >@C6 @7 2 G242E:@? 56DE:?2E:@? E92? 2 9@>6E@H?] %9:D (J@>:?8 E@H? 92D 2 ?2EFC2= k2 9C67lQ9EEADi^^HHH]9@EDAC:?8DDE2E6A2C<]4@>^Qm9@E DAC:?8D DE2E6 A2C<k^2m[ k2 9C67lQ9EEADi^^E96C>@A@=:D]4@>^2EEC24E:@?D^H:?5\C:G6C\42?J@?^Qm(:?5 #:G6C r2?J@?k^2m[ 2?5 2 k2 9C67lQ9EEADi^^E96C>@A@=:D]4@>^G:D:E\9:DE@C:42=\5@H?E@H?\E96C>@A@=:D^Qm9:DE@C:4[ 3FDE=:?8 5@H?E@H?k^2m[ 2== 2E C6D:56?EDV 7:?86CE:AD]k^Am
kAmk6>m$E@CJ 65:E:?8 3J rF u=6D9>2?k^6>m]k^Am
Many Americans who have bid farewell to the workforce or are thinking about it are turning to places that offer affordability, a strong economy, quality health care options, less traffic, and overall, more comfort. Neighborhoods outside major cities and metropolitan areas have grown in popularity among retirees, with 26% moving to smaller towns, but the overall number of people moving for retirement is down.
In 2021, American retirement relocations dropped significantly—approximately 43% less than the previous year, its lowest number of retiree relocations in five years. The Economic Research Federal Reserve Bank of St. Louis suggests this was a result of the ongoing COVID-19 pandemic, soaring home prices, and retirees not having enough savings.
kAmx? D66<:?8 E@ 96=A AC@DA64E:G6 C6E:C66D[ k2 9C67lQ9EEADi^^DE24<6C]4@>^Qm$E24<6Ck^2m C676C6?465 k2 9C67lQ9EEADi^^HHH]?:496]4@>^A=246D\E@\=:G6^D62C49^36DE\A=246D\E@\C6E:C6^nEJA6lE@H?U2>AjEJA6lDF3FC3Qm}:496’D a_a` q6DE !=246D E@ #6E:C6 DEF5Jk^2m[ C6=62D65 :? pF8FDE a_a`[ E@ =:DE d_ D>2== E@H?D E92E @776C E96 36DE C6E:C6>6?E] %96 7@4FD H2D @? E@H?D H:E9 2 A@AF=2E:@? @7 =6DD E92? c_[___]k^Am
kAm(96E96C J@F’C6 =@@<:?8 E@ C6=@42E6 @C ;FDE 4FC:@FD E@ D66 :7 J@FC 4:EJ @7 C6D:56?46 :D >6?E:@?65[ C625 @? E@ D66 H9:49 p>6C:42? D>2== E@H?D 2C6 E96 36DE C6E:C6>6?E DA@ED]k^Am
kAmkDEC@?8m*@F >2J 2=D@ =:<6ik^DEC@?8m k2 9C67lQ9EEADi^^DE24<6C]4@>^DE@C:6D^cceg^36DE\4@F?E:6D\C6E:C66D\2>6C:42Qmq6DE 4@F?E:6D 7@C C6E:C66D :? p>6C:42k^2mk^Am
kAmk:>8 DC4lQ9EEADi^^2?2=JE:4D]DE24<6C]4@>^EC24<:?8^c573fh45\3fde\cg__\2g7`\6b`3b74`55fa^A:I6=]8:7Q 96:89ElQ`Q H:5E9lQ`Q ^mk^Am
- Nicole Glass Photography // Shutterstock
- Population: 6,019 (19% age 55-64 and 34% age 65+)
- Homeowners: 70% of the population
kAm\ #6?E6CDi b_T @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i Sg`[ggbk^Am
- Chris Watson // Wikimedia Commons
- Population: 4,649 (13% age 55-64 and 20% age 65+)
- Homeowners: 51% of the population
kAm\ #6?E6CDi chT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i Se_[ch`k^Am
- Brian A. Ridder // Wikimedia Commons
- Population: 20,902 (14% age 55-64 and 80% age 65+)
- Homeowners: 85% of the population
kAm\ #6?E6CDi `dT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i Sch[`cfk^Am
- James Brooks // Wikimedia Commons
- Population: 28,539 (14% age 55-64 and 33% age 65+)
- Homeowners: 87% of the population
kAm\ #6?E6CDi `bT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i Sef[dd_k^Am
- shuttersv // Shutterstock
- Population: 4,105 (16% age 55-64 and 40% age 65+)
- Homeowners: 82% of the population
kAm\ #6?E6CDi `gT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i S`cf[d__k^Am
kAmkDEC@?8m*@F >2J 2=D@ =:<6ik^DEC@?8m k2 9C67lQ9EEADi^^DE24<6C]4@>^DE@C:6D^bcdd^36DE\4@F?EJ\C6E:C6\6G6CJ\DE2E6Qmq6DE 4@F?EJ E@ C6E:C6 :? 6G6CJ DE2E6k^2mk^Am
- MiNiProduction // Shutterstock
- Population: 2,835 (15% age 55-64 and 21% age 65+)
- Homeowners: 97% of the population
kAm\ #6?E6CDi bT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i S`ba[hddk^Am
- Jeffrey Beall // Shutterstock
- Population: 4,249 (17% age 55-64 and 32% age 65+)
- Homeowners: 68% of the population
kAm\ #6?E6CDi baT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i Shc[`_ak^Am
- Paul Latham // Shutterstock
- Population: 1,400 (24% age 55-64 and 48% age 65+)
- Homeowners: 82% of the population
kAm\ #6?E6CDi `gT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i S``c[dgbk^Am
- Ron Shawley // Wikimedia Commons
- Population: 6,140 (13% age 55-64 and 83% age 65+)
- Homeowners: 95% of the population
kAm\ #6?E6CDi dT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i S`c`[gdek^Am
- FloridaStock // Shutterstock
- Population: 1,162 (17% age 55-64 and 28% age 65+)
- Homeowners: 100% of the population
kAm\ #6?E6CDi _T @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i S`f_[c`fk^Am
kAmkDEC@?8m*@F >2J 2=D@ =:<6ik^DEC@?8m k2 9C67lQ9EEADi^^DE24<6C]4@>^DE@C:6D^begh^H92E\C6E:C6>6?E\d_\A=246D\2C@F?5\H@C=5Qm(92E C6E:C6>6?E :D =:<6 :? d_ A=246D 2C@F?5 E96 H@C=5k^2mk^Am
- Diana Daley // Shutterstock
- Population: 6,218 (23% age 55-64 and 25% age 65+)
- Homeowners: 60% of the population
kAm\ #6?E6CDi c_T @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i Sg`[hbak^Am
- Elena_Suvorova // Shutterstock
- Population: 5,323 (14% age 55-64 and 20% age 65+)
- Homeowners: 62% of the population
kAm\ #6?E6CDi bgT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i Sbe[e`_k^Am
- Sam Beebe // Wikimedia Commons
- Population: 1,406 (17% age 55-64 and 34% age 65+)
- Homeowners: 95% of the population
kAm\ #6?E6CDi dT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i S`_g[hcfk^Am
- Jacob Boomsma // Shutterstock
- Population: 1,741 (15% age 55-64 and 18% age 65+)
- Homeowners: 98% of the population
kAm\ #6?E6CDi aT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i S`ge[fd_k^Am
- ONUnicorn // Wikimedia Commons
- Population: 7,597 (18% age 55-64 and 25% age 65+)
- Homeowners: 72% of the population
kAm\ #6?E6CDi agT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i Sdf[gc`k^Am
kAmkDEC@?8m*@F >2J 2=D@ =:<6ik^DEC@?8m k2 9C67lQ9EEADi^^DE24<6C]4@>^DE@C:6D^bcdg^36DE\A=246D\C6E:C6\>:5H6DEQmq6DE A=246D E@ C6E:C6 :? E96 |:5H6DEk^2mk^Am
- Billwhittaker // Wikimedia Commons
- Population: 1,778 (10% age 55-64 and 30% age 65+)
- Homeowners: 57% of the population
kAm\ #6?E6CDi cbT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i Sef[`ggk^Am
- Weldon Schloneger // Shutterstock
- Population: 2,433 (19% age 55-64 and 33% age 65+)
- Homeowners: 94% of the population
kAm\ #6?E6CDi eT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i Shd[dggk^Am
- John Knouse // Wikimedia Commons
- Population: 2,760 (11% age 55-64 and 22% age 65+)
- Homeowners: 71% of the population
kAm\ #6?E6CDi ahT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i Sgg[ffgk^Am
- H.dryad // Wikimedia Commons
- Population: 6,688 (17% age 55-64 and 26% age 65+)
- Homeowners: 63% of the population
kAm\ #6?E6CDi bfT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i Sea[gdfk^Am
- Kristi Blokhin // Shutterstock
- Population: 9,622 (15% age 55-64 and 23% age 65+)
- Homeowners: 78% of the population
kAm\ #6?E6CDi aaT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i S`g`[hahk^Am
kAmkDEC@?8m*@F >2J 2=D@ =:<6ik^DEC@?8m k2 9C67lQ9EEADi^^DE24<6C]4@>^DE@C:6D^b_gb^36DE\A=246D\C6E:C6\62DE\4@2DEQmq6DE A=246D E@ C6E:C6 @? E96 62DE 4@2DEk^2mk^Am
- Nicole Glass Photography // Shutterstock
- Population: 6,019 (18% age 55-64 and 45% age 65+)
- Homeowners: 84% of the population
kAm\ #6?E6CDi `eT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i Sgb[gbhk^Am
- J.A. Johnson // Shutterstock
- Population: 1,129 (16% age 55-64 and 48% age 65+)
- Homeowners: 89% of the population
kAm\ #6?E6CDi ``T @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i S`b`[_f`k^Am
- Traveler100 // Wikimedia Commons
- Population: 3,219 (18% age 55-64 and 24% age 65+)
- Homeowners: 75% of the population
kAm\ #6?E6CDi adT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i Sd_[hfak^Am
- Dan Thornberg // Shutterstock
- Population: 2,392 (17% age 55-64 and 28% age 65+)
- Homeowners: 87% of the population
kAm\ #6?E6CDi `bT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i S`__[b__k^Am
- Aaron Manning // Wikimedia Commons
- Population: 11,077 (15% age 55-64 and 30% age 65+)
- Homeowners: 85% of the population
kAm\ #6?E6CDi `dT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i S`ha[hgbk^Am
kAmkDEC@?8m*@F >2J 2=D@ =:<6ik^DEC@?8m k2 9C67lQ9EEADi^^DE24<6C]4@>^DE@C:6D^be`d^36DE\A=246D\C2:D6\72>:=J\?@CE962DEQmq6DE A=246D E@ C2:D6 2 72>:=J :? E96 }@CE962DEk^2mk^Am
- Amy Kerkemeyer // Shutterstock
- Population: 2,633 (15% age 55-64 and 21% age 65+)
- Homeowners: 73% of the population
kAm\ #6?E6CDi afT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i Scg[ebek^Am
- 5of7 // Wikimedia Commons
- Population: 2,903 (10% age 55-64 and 25% age 65+)
- Homeowners: 60% of the population
kAm\ #6?E6CDi c_T @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i Scg[ccfk^Am
- Ammodramus // Wikimedia Commons
- Population: 18,446 (15% age 55-64 and 41% age 65+)
- Homeowners: 73% of the population
kAm\ #6?E6CDi afT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i Sdd[dcak^Am
- Steve Lagreca // Shutterstock
- Population: 6,604 (18% age 55-64 and 27% age 65+)
- Homeowners: 67% of the population
kAm\ #6?E6CDi bbT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i Sgf[ddfk^Am
- M.Bailey // Shutterstock
- Population: 1,271 (23% age 55-64 and 50% age 65+)
- Homeowners: 86% of the population
kAm\ #6?E6CDi `cT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i Sh_[b`bk^Am
kAmkDEC@?8m*@F >2J 2=D@ =:<6ik^DEC@?8m k2 9C67lQ9EEADi^^DE24<6C]4@>^DE@C:6D^bce_^36DE\A=246D\C6E:C6\H6DE\4@2DEQmq6DE A=246D E@ C6E:C6 @? E96 (6DE r@2DEk^2mk^Am
- Andrew F. Kazmierski // Shutterstock
- Population: 3,571 (17% age 55-64 and 44% age 65+)
- Homeowners: 97% of the population
kAm\ #6?E6CDi bT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i S`_f[`_ck^Am
- Karl Cox // Shutterstock
- Population: 3,119 (12% age 55-64 and 31% age 65+)
- Homeowners: 100% of the population
kAm\ #6?E6CDi _T @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i S`ff[d__k^Am
- Eric Salard // Wikimedia Commons
- Population: 1,343 (22% age 55-64 and 47% age 65+)
- Homeowners: 89% of the population
kAm\ #6?E6CDi ``T @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i Sfd[b`bk^Am
- James Willamor // Wikimedia Commons
- Population: 2,724 (15% age 55-64 and 29% age 65+)
- Homeowners: 71% of the population
kAm\ #6?E6CDi ahT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i Sce[ddak^Am
- Tim Samuelson // Shutterstock
- Population: 7,212 (16% age 55-64 and 19% age 65+)
- Homeowners: 81% of the population
kAm\ #6?E6CDi `hT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i Sgc[`b_k^Am
kAmkDEC@?8m*@F >2J 2=D@ =:<6ik^DEC@?8m k2 9C67lQ9EEADi^^DE24<6C]4@>^DE@C:6D^bg_g^36DE\A=246D\=:G6\2>6C:42Qmq6DE A=246D E@ =:G6 :? p>6C:42k^2mk^Am
- arthurgphotography // Shutterstock
- Population: 9,452 (11% age 55-64 and 18% age 65+)
- Homeowners: 67% of the population
kAm\ #6?E6CDi bbT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i Sdg[hcfk^Am
- 4kclips // Shutterstock
- Population: 1,958 (15% age 55-64 and 71% age 65+)
- Homeowners: 84% of the population
kAm\ #6?E6CDi `eT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i Sb_[fh`k^Am
- Cary Bass // Wikimedia Commons
- Population: 5,932 (15% age 55-64 and 26% age 65+)
- Homeowners: 87% of the population
kAm\ #6?E6CDi `bT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i S`ab[gdck^Am
- ifly6 // Wikimedia Commons
- Population: 5,494 (19% age 55-64 and 26% age 65+)
- Homeowners: 83% of the population
kAm\ #6?E6CDi `fT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i S```[``_k^Am
- Wangkun Jia // Shutterstock
- Population: 10,669 (20% age 55-64 and 40% age 65+)
- Homeowners: 79% of the population
kAm\ #6?E6CDi a`T @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i Scc[geak^Am
kAmkDEC@?8m*@F >2J 2=D@ =:<6ik^DEC@?8m k2 9C67lQ9EEADi^^DE24<6C]4@>^DE@C:6D^bd_h^3:==:@?2:C6D\=:G6\D>2==6DE\2>6C:42?\E@H?DQmq:==:@?2:C6D E92E =:G6 :? E96 D>2==6DE p>6C:42? E@H?Dk^2mk^Am
- bsankow // Shutterstock
- Population: 3,509 (17% age 55-64 and 28% age 65+)
- Homeowners: 68% of the population
kAm\ #6?E6CDi baT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i Sce[_f`k^Am
- Cheri Alguire // Shutterstock
- Population: 22,631 (16% age 55-64 and 23% age 65+)
- Homeowners: 89% of the population
kAm\ #6?E6CDi ``T @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i S`_g[d``k^Am
- Melinda Fawver // Shutterstock
- Population: 2,887 (10% age 55-64 and 40% age 65+)
- Homeowners: 55% of the population
kAm\ #6?E6CDi cdT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i Sg_[cd`k^Am
- Stedil // Wikimedia Commons
- Population: 8,530 (14% age 55-64 and 30% age 65+)
- Homeowners: 83% of the population
kAm\ #6?E6CDi `fT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i Seb[eg_k^Am
- Kit Leong // Shutterstock
- Population: 1,028 (18% age 55-64 and 29% age 65+)
- Homeowners: 77% of the population
kAm\ #6?E6CDi abT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i Sgc[eggk^Am
kAmkDEC@?8m*@F >2J 2=D@ =:<6ik^DEC@?8m k2 9C67lQ9EEADi^^DE24<6C]4@>^DE@C:6D^dae^36DE\A=246\C2:D6\72>:=J\6G6CJ\DE2E6Qmq6DE A=246D E@ C2:D6 2 72>:=J :? 6G6CJ DE2E6k^2mk^Am
- Bob LoCicero // Shutterstock
- Population: 1,226 (13% age 55-64 and 34% age 65+)
- Homeowners: 100% of the population
kAm\ #6?E6CDi _T @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i Sg`[ggdk^Am
- Famartin // Wikimedia Commons
- Population: 1,105 (13% age 55-64 and 23% age 65+)
- Homeowners: 97% of the population
kAm\ #6?E6CDi bT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i S`hc[h_ck^Am
- SounderBruce // Wikimedia Commons
- Population: 3,368 (20% age 55-64 and 28% age 65+)
- Homeowners: 69% of the population
kAm\ #6?E6CDi b`T @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i Sbg[ffck^Am
- Malachi Jacobs // Shutterstock
- Population: 6,153 (14% age 55-64 and 25% age 65+)
- Homeowners: 93% of the population
kAm\ #6?E6CDi fT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i S`_e[_dgk^Am
- Porterhse // Wikimedia Commons
- Population: 2,703 (14% age 55-64 and 26% age 65+)
- Homeowners: 77% of the population
kAm\ #6?E6CDi abT @7 E96 A@AF=2E:@?k^Am
kAm\ |65:2? 9@FD69@=5 :?4@>6i Sdb[`eak^Am
kAmkDEC@?8m*@F >2J 2=D@ =:<6ik^DEC@?8m k2 9C67lQ9EEADi^^DE24<6C]4@>^DE@C:6D^cbdb^36DE\4@F?EJ\C2:D6\72>:=J\6G6CJ\DE2E6Qmq6DE 4@F?EJ E@ C2:D6 2 72>:=J :? 6G6CJ DE2E6k^2mk^Am
- Jonathan Green // Wikimedia Commons
Cheerful couple walking on pedestrian street.
- Rido // Shutterstock
