Search found 290 matches
- Wed Nov 01, 2023 9:38 pm
- Forum: Investing - Theory, News & General
- Topic: Jack Bogle - Two Fund Portfolio
- Replies: 2645
- Views: 322215
Re: Jack Bogle - Two Fund Portfolio
Is VTSAX still the best total US fund? I just looked at Morningstar and Forbes, and see no reason to change.
- Thu Oct 26, 2023 8:11 pm
- Forum: Investing - Theory, News & General
- Topic: Jack Bogle - Two Fund Portfolio
- Replies: 2645
- Views: 322215
Re: Jack Bogle - Two Fund Portfolio
Not according to Mr. Bogle, but best of luck with that!
- Tue Oct 24, 2023 7:47 pm
- Forum: Investing - Theory, News & General
- Topic: Jack Bogle - Two Fund Portfolio
- Replies: 2645
- Views: 322215
Re: Jack Bogle - Two Fund Portfolio
Thank you for this solomonic decision, Ladygeek!
- Mon Oct 16, 2023 9:33 pm
- Forum: Personal Consumer Issues
- Topic: What are you listening to now
- Replies: 5833
- Views: 591145
Re: What are you listening to now
Harold Vick, Bunky Green, and the Duke/Trane record once again.
- Thu Apr 27, 2023 10:14 pm
- Forum: Personal Consumer Issues
- Topic: Tips for purchasing from Aliexpress
- Replies: 9
- Views: 1135
Re: Tips for purchasing from Aliexpress
After using both occasionally for a few years, I've gotten ripped off by sellers on both Ali Express and DHGate. Their customer services just wasted my time instead of helping me.
- Sun Apr 09, 2023 9:15 pm
- Forum: Personal Finance (Not Investing)
- Topic: Daughter wants to pursue a career in music
- Replies: 86
- Views: 16787
Re: Daughter wants to pursue a career in music
Congratulations on your daughter! Playing gigs as a sole source of income worked out for me, but only by adhering closely to Mr. Bogle's investment advice. I've never been famous or earned a lot, two things I just never worried about, but I could retire now and just travel, if I wanted to. Living your dream every day is heaven. Thank you, John Bogle!
I believe that the discipline, creativity, energy and intelligence required to become a good jazz musician would see someone easily through potential later career changes. The point made above about the importance of being a likeable person strikes home. I can't speak to the classical music business. What the right path is only she herself can know. How lucky to have Boglehead parents!
I believe that the discipline, creativity, energy and intelligence required to become a good jazz musician would see someone easily through potential later career changes. The point made above about the importance of being a likeable person strikes home. I can't speak to the classical music business. What the right path is only she herself can know. How lucky to have Boglehead parents!
- Wed Feb 15, 2023 7:19 pm
- Forum: Non-US Investing
- Topic: Two International Debit Cards: Wise vs. IBKRs
- Replies: 20
- Views: 4352
Re: Two International Debit Cards: Wise vs. IBKRs
Interesting. I've compared the Wise Dollar/Euro rate with Visas over the years, and Wise came out way ahead (Mid-market exchange rate, minus 0.47%). 3 days ago I did test conversions of $100 and $1000 to Euros in the Wise and Revolut accounts, and Wise came out ahead, after fees, by almost .5 %. A purchase paid in Euros with the Schwab Visa debit card was about 0.5% more expensive than with the Wise Mastercard debit card. Long live competition between banks! Apparently there is no difference in fees (always 0.47%) between converting Dollars in a Wise account to Euros once, in a large amount, and then spending in Euros, and only converting each time the card is used to spend smaller amounts in Euros. I used to always convert larger amounts a...
- Sun Feb 12, 2023 2:20 pm
- Forum: Investing - Theory, News & General
- Topic: Why do I need international stock
- Replies: 199
- Views: 22607
Re: Why do I need international stock
Congratulations to Mr. Hulbert on finding an endpoint that fits his argument!
- Sun Feb 12, 2023 8:16 am
- Forum: Personal Finance (Not Investing)
- Topic: Suggestions for Obtaining Cash in Europe
- Replies: 75
- Views: 5301
Re: Suggestions for Obtaining Cash in Europe
I would get a Wise or Schwab card or both in your name (better rates than AMEX), and let them take it. You share the log - in details, and you load with dollars as needed. The student downloads the app onto their phone. ACH push/pull from your bank is free.
- Fri Feb 10, 2023 2:15 pm
- Forum: Personal Finance (Not Investing)
- Topic: Suggestions for Obtaining Cash in Europe
- Replies: 75
- Views: 5301
Re: Suggestions for Obtaining Cash in Europe
Especially in the kind of restaurants I like. I load dollars onto Wise and convert to Euros in big amounts as needed, then pay with their debit card whenever possible. I think that rate is slightly better than the Schwab debit card ATM conversion, and considerably better than credit card conversions. I use Schwab for ATM cash, after using up the Wise monthly free $100 cash withdrawal limit. Credit cards only where cash or Wise debit card are not possible.
- Thu Jan 26, 2023 11:17 pm
- Forum: Personal Consumer Issues
- Topic: Freetaxusa vs Turbotax
- Replies: 121
- Views: 17197
Re: Freetaxusa vs Turbotax
+1alexbogle wrote: ↑Wed Dec 28, 2022 9:02 am I love freetaxusa. I use their UI and then also fill out the 1040 manually. Then I compare and double check everything. This is easy because freetaxusa produces a filled-in copy of the 1040.
I'm sure TurboTax probably lets you do this too, but I refuse to support their lobbying efforts to prevent the U.S. government from simplifying the filing process for people.
- Wed Jan 25, 2023 8:21 pm
- Forum: Investing - Theory, News & General
- Topic: International Stocks return will be superior to US
- Replies: 480
- Views: 42673
Re: International Stocks return will be superior to US
As a US - only investor, I find this very reassuring, considering the source. I assume Vanguards experts probably believe that buccaneering Global Britain, finally liberated from the shackles of the EU through Brexit, will pull up global stocks.
- Mon Jan 23, 2023 8:49 pm
- Forum: US Chapters
- Topic: 🎊Happy 99th Birthday to Taylor Larimore🎉
- Replies: 247
- Views: 15949
Re: 🎊Happy 99th Birthday to Taylor Larimore🎉
Happy birthday, Taylor, best wishes, and thank you!
- Mon Dec 19, 2022 8:05 pm
- Forum: Non-US Investing
- Topic: Boglebot Results: Investing from Germany
- Replies: 5
- Views: 1461
Re: Boglebot Results: Investing from Germany
Welcome! Looks good. Now the biggest question is: can you stay the course for 25 years and ignore the noise? (It helps me to read Bogle when I'm tempted to waver.)
- Mon Dec 05, 2022 8:02 pm
- Forum: Personal Consumer Issues
- Topic: Guidance for Mid-Price Electric Guitar
- Replies: 47
- Views: 4205
Re: Guidance for Mid-Price Electric Guitar
I tried the cheap route (Harley Benton), and the action on the unit I bought hurts my fingers. Which model? I have a Harley Benton, and I am quite fond of mine. If the action is too high, you should adjust it or take it to a local luthier for a set-up. The ability to adjust the action and do basic set-up on your instrument is a skill you should learn regardless. Yes, learning to do that that can save time, trouble and money. Weight is now the first thing I consider when checking out guitars. The last guitar I've built myself is a hollow custom tele weighing under 4 1/2 pds., incldg. the strap. A guy who offers hand made bodies on Ebay custom built the body for me ($190), and I screwed the rest together. I only did that because I couldn't f...
- Sun Oct 09, 2022 9:13 pm
- Forum: Investing - Theory, News & General
- Topic: 10 Major Portfolio and Investment Mistakes: Share Your Mistakes
- Replies: 64
- Views: 7754
Re: 10 Major Portfolio and Investment Mistakes: Share Your Mistakes
Hi Taylor,
I've been a 100% equity investor for most of my life. The lesson I've taken from this is that it pays to stick with John Bogle's advice. But I'll always be grateful to you for your other valuable contributions, and for helping create this forum.
I've been a 100% equity investor for most of my life. The lesson I've taken from this is that it pays to stick with John Bogle's advice. But I'll always be grateful to you for your other valuable contributions, and for helping create this forum.
- Sun Oct 09, 2022 9:07 am
- Forum: Investing - Theory, News & General
- Topic: 10 Major Portfolio and Investment Mistakes: Share Your Mistakes
- Replies: 64
- Views: 7754
Re: 10 Major Portfolio and Investment Mistakes: Share Your Mistakes
My biggest investing mistake was shifting 33% to international on the advice of Vanguard, and then staying in international for 10 more years than I really wanted to, on the advice of respected Bogleheads like Taylor Larimore and Nisiprius. At least I finally switched back to 100% US a few years ago, but my portfolio will never recuperate those losses. My second biggest mistake was investing in a Vanguard annuity.
- Wed Sep 21, 2022 8:02 pm
- Forum: Investing - Theory, News & General
- Topic: Vanguard: "more expensive not to get financial advice"
- Replies: 117
- Views: 13759
Re: Vanguard: "more expensive not to get financial advice"
Bingo!
Vanguard's investment advice cost me about 3 - 4 years of retirement. It would be more if I hadn't gone back to the Bogle portfolio after 20 years. I can't afford to follow Vanguard's advice.
- Tue Aug 30, 2022 8:26 pm
- Forum: Investing - Theory, News & General
- Topic: Why so much International in Vanguard Target Retirement funds?
- Replies: 18
- Views: 2507
Re: Why so much International in Vanguard Target Retirement funds?
It's all part of Vanguard's strategy to get investors to stop following John Bogle's investment philosophy. They would also like you to hire one of their advisors and start trading on the brokerage platform. They're not yet recommending/offering crypto, but that's just a matter of time, imho.
- Sun Aug 28, 2022 8:28 pm
- Forum: Personal Investments
- Topic: How much is enough for a single man to retire?
- Replies: 91
- Views: 17849
Re: How much is enough for a single man to retire?
Good answer, I think. One of my favorite aunts told me that life by itself has no point; giving it meaning is up to us.dogagility wrote: ↑Tue May 11, 2021 4:56 amA life goal might be to have friends and family with whom to enjoy experiences. That's the point. Ideally, working hard enables, but does not impede, that goal.
- Sun Aug 14, 2022 8:36 pm
- Forum: Non-US Investing
- Topic: Two International Debit Cards: Wise vs. IBKRs
- Replies: 20
- Views: 4352
Re: Two International Debit Cards: Wise vs. IBKRs
The Wise free atm withdrawal limit is just $100 or equivalent, afaik.
- Wed Aug 03, 2022 8:30 pm
- Forum: Investing - Theory, News & General
- Topic: Wiki suggestion - "The case for US only stocks"
- Replies: 129
- Views: 10022
Re: Wiki suggestion - "The case for US only stocks"
"John Bogle held a view that it was not necessary to hold stocks domiciled outside the US."
I believe he assumed himself to be addressing American investors. So maybe:
"John Bogle held a view that, for American investors, it was not necessary to hold stocks domiciled outside the US." would work?
I've often suspected that part of the intractable discussion about international investing here is simply US - based and non US - based investors talking past each other, without identyfying themselves.
I believe he assumed himself to be addressing American investors. So maybe:
"John Bogle held a view that, for American investors, it was not necessary to hold stocks domiciled outside the US." would work?
I've often suspected that part of the intractable discussion about international investing here is simply US - based and non US - based investors talking past each other, without identyfying themselves.
- Mon Aug 01, 2022 9:26 pm
- Forum: Investing - Theory, News & General
- Topic: Wiki suggestion - "The case for US only stocks"
- Replies: 129
- Views: 10022
Re: Wiki suggestion - "The case for US only stocks"
Wikipedia allows "facts about opinions." I personally would support the idea of a Wiki page which simply laid out John C. Bogle's views on global investing, told as much as possible in the form of verbatim quotations from his books and interview, including his acknowledgement that "everyone tells me I'm wrong." The title of the page would be something like "John C. Bogle's views on global investing." It would be discussed and judged, not on the question of whether Bogle was right, but on whether it was an accurate description of his views. If his views varied over time (I don't think they did), it would be legitimate for the article to point that out. Sounds good to me, and seems only fair. Nothing lasts forev...
- Mon Aug 01, 2022 8:52 pm
- Forum: Investing - Theory, News & General
- Topic: Wiki suggestion - "The case for US only stocks"
- Replies: 129
- Views: 10022
Re: Wiki suggestion - "The case for US only stocks"
I've long found it strange that even this website, of all websites, tries to steer readers away from following Mr. Bogle's investment advice, when it comes to international. This cost me a lot of money personally, until I learned to ignore the advice, and reverted to Bogles recipe of VTSAX and VBTLX. Including the proposed page in the WIKI would make sense to me.
- Wed May 11, 2022 8:41 pm
- Forum: Personal Consumer Issues
- Topic: USPS Shows Item Delivered but No Item in Box
- Replies: 36
- Views: 4074
Re: USPS Shows Item Delivered but No Item in Box
I live in NYC, near what must be one of the worst post offices on the planet. Filing complaints about their fraud and sloth was a pure waste of time. The only solution seems to be to stop doing business with people who use USPS. Very difficult. I wish they would get closed down.
- Tue May 03, 2022 8:12 pm
- Forum: Non-US Investing
- Topic: TransferWise vs Schwab for EUR to USD recurring transfers
- Replies: 72
- Views: 10634
Re: TransferWise vs Schwab for EUR to USD recurring transfers
Wise fees for converting from Euros to USD have gone up again significantly, from last month. I don't recall any announcement regarding this.
- Tue May 03, 2022 7:57 pm
- Forum: Investing - Theory, News & General
- Topic: Where My 100% Equities Peeps At?!?
- Replies: 387
- Views: 54905
Re: Where My 100% Equities Peeps At?!?
This is how we earn it.
- Wed Apr 27, 2022 8:36 pm
- Forum: Spain
- Topic: Effective tax rate on a $180k/yr retirement income for a US expat couple in Spain: 21 %?
- Replies: 70
- Views: 21466
Re: Effective tax rate on a $180k/yr retirement income for a US expat couple in Spain: 21 %?
Not the first to say this, and I'm sure I speak for many, when I say thank you, TedSwippet, for your insights!
- Tue Apr 26, 2022 7:49 pm
- Forum: Personal Finance (Not Investing)
- Topic: Best option for receiving international wire transfer from European bank
- Replies: 36
- Views: 3644
Re: Best option for receiving international wire transfer from European bank
So you didn't actually wire the funds, like the Schwab instructions indicate, but the wiring instructions work for bank transfer as well? Ah, okay so I think Schwab's wording is a bit confusing, but not necessarily incorrect? I think what happens in the case of Euros is that you transfer via SEPA to Schwab's Citibank account in Frankfurt, specifying your Schwab account number in the notes then Citibank wires the money to your Schwab account (or something similar). In the case of other currencies and banking systems, you might actually initiate a wire transfer or local equivalent. Either way, I think technically there is actually a wire transfer being processed? Thank you for that explanation, JD. SEPA was the word I was looking for. P.S: I...
- Mon Apr 25, 2022 9:05 pm
- Forum: Personal Finance (Not Investing)
- Topic: Best option for receiving international wire transfer from European bank
- Replies: 36
- Views: 3644
Re: Best option for receiving international wire transfer from European bank
So you didn't actually wire the funds, like the Schwab instructions indicate, but the wiring instructions work for bank transfer as well?
- Sat Apr 23, 2022 7:17 pm
- Forum: Personal Finance (Not Investing)
- Topic: Vangaurd Variable Annuity gets a new name
- Replies: 9
- Views: 1789
Re: Vangaurd Variable Annuity gets a new name
I wonder if this could eventually lead to a change in the portfolio of underlying funds.
- Mon Apr 11, 2022 9:17 pm
- Forum: Personal Consumer Issues
- Topic: Hold, Rent Out or Sell? Manhattan Apt- 2022 Update
- Replies: 117
- Views: 13244
Re: Hold, Rent Out or Sell? Manhattan Apt- 2022 Update
I varies a great deal from neighborhood to neighborhood. In mine, I would guess the rate is still higher than 40%. Some areas, like on the UES, look completely unaffected.
Apropos doom and gloom: "In Manhattan, the offices are pretty empty and likely to remain so, posing an existential threat to the island's economy."
https://gothamist.com/news/extra-extra- ... -patchogue
Apropos doom and gloom: "In Manhattan, the offices are pretty empty and likely to remain so, posing an existential threat to the island's economy."
https://gothamist.com/news/extra-extra- ... -patchogue
- Tue Mar 29, 2022 8:28 pm
- Forum: Personal Investments
- Topic: Evaluate my Annuity Investment
- Replies: 5
- Views: 697
Re: Evaluate my Annuity Investment
Only you can know what asset mix is right for you, but these expenses are way too high for my taste. Bogleheads prefer passive funds.
- Mon Mar 28, 2022 9:39 am
- Forum: Investing - Theory, News & General
- Topic: Bloomberg, "Vanguard Stumbles In Pivot From Cult of Jack Bogle"
- Replies: 60
- Views: 12589
Re: Bloomberg, "Vanguard Stumbles In Pivot From Cult of Jack Bogle"
What is surprising is after 25 years without Jack at the helm, Vanguard has been remarkably the same. Yeah, he had an office in the building but it's not the same. And OF COURSE, when there is a change of leadership, the culture will change too and I think this article only feeds the folks who complain about customer service. My goodness, I signed on to VG because I did NOT want investment advice. I already know my risk tolerance, my needs, how to diversify etc. etc. I love my cost at about .07% and their value system of not having shareholders is still revolutionizing, and the primary reason I will stay with VG. I don't call Vanguard customer service much because of the above reason, but the last two calls were questions I had about under...
- Tue Feb 01, 2022 7:34 pm
- Forum: Personal Consumer Issues
- Topic: Germany travel questions
- Replies: 29
- Views: 2189
Re: Germany travel questions
Things do tend to shut down at some point on the weekend, because unions there, as in France, are strong and insist on workers having adequate rest and vacations. Frankfurt is cheaper and 1 hour less from US, usually. Munich airport is much smaller and quieter and more comfortable/walkable. Frankfurt is bigger and uglier, but there's plenty to see (Goethe's home, art museums etc.) And nearby Cologne is worth a trip, imo. Right now Google shows LH direct NY - MUC for 538. Once the pandemic is less of an issue, it may be 3 times that in season.
- Mon Jan 24, 2022 9:21 am
- Forum: US Chapters
- Topic: Happy 98th Birthday to Taylor Larimore 🎂🍰🎉🎊❤️🎁⭐️
- Replies: 264
- Views: 19648
Re: Happy 98th Birthday to Taylor Larimore 🎂🍰🎉🎊❤️🎁⭐️
Happy Birthday Taylor!
Keeping my fingers crossed for many more.
Keeping my fingers crossed for many more.
- Sun Jan 09, 2022 6:59 pm
- Forum: Personal Investments
- Topic: Why should I be holding International, when it has underperformed for so long?
- Replies: 66
- Views: 8804
Re: Why should I be holding International, when it has underperformed for so long?
From reading newspapers in 3 or 4 languages daily, and often traveling and working outside the US, my impression is that the global perception of political risk in the US has been changing since John Bogle's death. As a 100% US investor, who has studied history, and who shares this perception, I hate to think about what impact that could have. Maybe I would consider holding on, and just letting your allocation drift, if I were in your shoes.
- Sun Jan 02, 2022 7:25 pm
- Forum: Investing - Theory, News & General
- Topic: International in 2022 -- yay or nay? [Developed and Emerging markets]
- Replies: 324
- Views: 25096
Re: International in 2022 -- yay or nay? [Developed and Emerging markets]
Nay, although I expect a period of international equity outperformance before too long. But to me, the most likely reason for that to happen is a drop in the dollar, which could easily stay at that lower level for a number of years. Not something I want to worry about. I'll rather
stick with Vanguard Total Bond Market Index Fund for diversification, just like John Bogle recommended.
stick with Vanguard Total Bond Market Index Fund for diversification, just like John Bogle recommended.
- Tue Dec 28, 2021 9:11 am
- Forum: Investing - Theory, News & General
- Topic: Why The US Market Has Recently Been Exceptional
- Replies: 58
- Views: 7002
Re: Why The US Market Has Recently Been Exceptional
There are also geographical, historical, cultural, and population growth factors which are not addressed in the article, but should be considered by an informed investor, and were, by John Bogle.
I think your point of considering international diversification just for retirement is very interesting.
I think your point of considering international diversification just for retirement is very interesting.
- Thu Dec 16, 2021 6:49 pm
- Forum: Personal Finance (Not Investing)
- Topic: I want to start filing my own taxes - where do I start
- Replies: 14
- Views: 2068
Re: I want to start filing my own taxes - where do I start
If your Adjusted Gross Income is $73,000 or less, you may qualify for IRS Free File Offers at www.IRS.Gov
You could check if any of those tax software companies offer free state returns for your state. Or, your state may have a web page, starting in January, that lists free federal and state software.
You could check if any of those tax software companies offer free state returns for your state. Or, your state may have a web page, starting in January, that lists free federal and state software.
- Thu Dec 16, 2021 6:34 pm
- Forum: Investing - Theory, News & General
- Topic: Vanguard: U.S. equities more overvalued than any time since the dot-com bubble
- Replies: 599
- Views: 45154
Re: Vanguard: U.S. equities more overvalued than any time since the dot-com bubble
Nevertheless, I'm grateful to Vanguard for making that statement, given their predictive record. Now I sleep better with 85% in VTSAX.
- Sun Dec 12, 2021 7:37 pm
- Forum: Personal Finance (Not Investing)
- Topic: How easy to do your own taxes?
- Replies: 89
- Views: 8122
Re: How easy to do your own taxes?
Intuit needs to charge high fees because their "lobbying" in Washington to keep tax returns difficult and their industry viable is so expensive.
- Thu Nov 18, 2021 3:28 pm
- Forum: Investing - Theory, News & General
- Topic: "The Eight Success Principles Jack Bogle Lives By"
- Replies: 3
- Views: 933
Re: "The Eight Success Principles Jack Bogle Lives By"
Never having met Mr. Bogle, every bit of information helps to understand the man who enabled me to live the dream. Thanks for posting, Taylor.
- Fri Nov 12, 2021 8:30 am
- Forum: Investing - Theory, News & General
- Topic: Vanguard's new mobile app (formerly known as "Beacon")
- Replies: 702
- Views: 82548
Re: "Beacon," Vanguard's new mobile app
Same here. I just uninstalled the app.
- Sat Oct 30, 2021 9:11 pm
- Forum: Personal Investments
- Topic: Help with cashing out an annuity
- Replies: 6
- Views: 1360
Re: Help with cashing out an annuity
Sorry to hear about your dad. If his medical expenses are that high, maybe they could, if deductible, make any tax cost for getting out of the annuity disappear.
- Fri Sep 17, 2021 8:56 pm
- Forum: Investing - Theory, News & General
- Topic: Possible solution to Vanguard / Transamerica Annuity
- Replies: 11
- Views: 2353
Re: Possible solution to Vanguard / Transamerica Annuity
Definitely worth investigating. Thank you!
- Tue Sep 14, 2021 4:15 pm
- Forum: Investing - Theory, News & General
- Topic: Vanguard's new mobile app (formerly known as "Beacon")
- Replies: 702
- Views: 82548
Re: "Beacon," Vanguard's new mobile app
One interesting thing I noticed with the app is that the aggressive pop - ups exhorting me to increase my international holdings, which used to, for years, be the first thing I saw opening the app, have ceased. I wonder why, since we're supposedly in the middle of a decade of international outperformance... please excuse the digression. My belief is that VGD is trying to get rid of me as a customer, since I don't pay for active funds or PAS, and haven't converted to ETFs. Fobbing my annuities off to Transamerica, shutting me out of their app (I'm no longer allowed to conduct any transactions by app since I haven't converted my account) and now denying me the ability to make mobile check deposits is just their way of letting me know. Calling...
- Mon Sep 13, 2021 9:22 pm
- Forum: Personal Investments
- Topic: Wiring funds from foreign bank to Vanguard US account
- Replies: 5
- Views: 1648
Re: Wiring funds from foreign bank to Vanguard US account
This seems to have become easier. After you link the TransferWise account to Vanguard, which takes a few days, you can do a ACH pull from VGD for free, or a ACH push from TransferWise for 28 cents.
So you could push US dollars from a foreign bank for free to TW, and then pull them into VGD. TW is pretty quick.
- Thu Sep 09, 2021 7:51 pm
- Forum: Personal Finance (Not Investing)
- Topic: Variable Annuity
- Replies: 16
- Views: 1865
Re: Variable Annuity
Listen to Stinky.
- Sun Aug 29, 2021 8:43 pm
- Forum: Personal Consumer Issues
- Topic: Covid restrictions to enter Germany/ anyone been recently?
- Replies: 57
- Views: 4998
Re: Covid restrictions to enter Germany/ anyone been recently?
Original CDC paper vaccination certificate was required.