Five Basics for Building a Solid Financial Future
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By RON LIEBER
Published: May 17, 2008
The stark truth about managing our money these days is that we are mostly on our own.
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Few employers want us around for 40 years, so our income is likely to have ups and downs and disappear altogether for brief periods between jobs. Saving for retirement is now mostly our responsibility, too. Health insurance, for those of us who have it and manage to keep it, requires increasingly large amounts of money out of our pockets. The list goes on and on.
At the same time, all sorts of individuals and institutions have smelled opportunity and lined up to peddle their wares, resulting in an explosion of credit cards, bank products and advisers of various stripes. Some of this is helpful because competition has led to lower costs. But in other instances — say, newfangled adjustable-rate mortgages — the result has been painful.
Complicating all of this is the housing downturn, which has affected the largest asset in many portfolios. Rising fuel and food prices along with tougher loan standards do not help.
Given the stakes, it is hard to avoid the persistent low-grade fear that we have made wrong choices or cannot find the right ones, even though they are out there somewhere.
“There’s no guarantee that the choices will be available, attractive or appropriate for everyone,” said Jacob S. Hacker, a political science professor at Yale University and author of “The Great Risk Shift,” which looked at how corporations and governments have pushed financial responsibility onto individuals.
So as I take on the Your Money column (and later this year, a companion personal finance site at nytimes.com), I want to devote some space to treating the subject in much the same way that this newspaper’s critics treat new films or restaurants. Important new offerings — whether mutual funds or a shopping search engine — will merit a review. And one by one, we will figure out what is worth using and what is best to ignore.
Until then, here are five basic guidelines. Think of them as the first principles of Your Money, guidance that can be useful in making just about any financial decision.
INVESTING IS SIMPLE The author Michael Pollan offered an elegant seven-word mantra in his best-selling book “In Defense of Food” that provides clarity amid the bounty of choices on supermarket shelves: “Eat food. Not too much. Mostly plants.”
Boiling down investing is a similar exercise: Index (mostly). Save a ton. Reallocate infrequently.
For most of us, investing in index mutual funds and similar vehicles — and sticking with them — is the hardest part of the mantra to accept. There are about 7,500 stocks on the three major exchanges in the United States and roughly 8,000 mutual funds. It would seem that with such an array of choices, we should be able to create portfolios that can outperform the market averages.
The fact is, however, besting the overall market in most investment classes is nearly impossible over long periods of time. Sure, it may be fun to try. But if you enjoy that sort of thing, do it with a tiny piece of your portfolio. And remember to call it what it actually is: gambling.
The rest of us should save as much as we can in a collection of low-cost index funds. Divide the money among stocks, bonds and other investments according to your time horizon and risk tolerance. Then adjust that allocation occasionally. Opinions vary on the frequency, but most experts agree that adjusting the mix more often than every 6 to 12 months is unnecessary and possibly costly.
IT STILL MAY BE WORTH PAYING FOR HELP Investing, however, is only one small part of your financial life. Mortgages, taxes, college savings, insurance and debt are a few of the hugely important tasks we have to figure out.
Perhaps the best thing a versatile professional — whether it is a financial planner, accountant, stockbroker or lawyer — does is provide discipline. It is difficult to get most of this stuff right. And to get it done at the right time. Professionals help make sure it all happens on schedule.
Most of us would rather avoid paying for help. Many financial planners charge 1 percent of a client’s assets annually for advice on anything and everything, including investing. So if you have $200,000 saved for retirement, that is $2,000 a year.
The best defense I have ever heard for this level of compensation comes from Roger Streit, a financial planner at Key Financial Solutions in Roseland, N.J. He says that only 1 percent of us are wise enough and regimented enough to manage our own financial affairs. The other 99 percent, meanwhile, could almost certainly improve their investment performance at least 1 percent, thus justifying the annual fee.
Sure, this sounds self-serving. But it is also probably true. For people without large portfolios or those who need help with something specific, planners affiliated with the Garrett Planning Network can help. All members are financial planners who agree to offer hourly rates.
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Past Coverage
YOUR MONEY; Mortgage-Free, but Not Free From the Temptation to Borrow (May 3, 2008)SHORTCUTS; Pick a Planner Who Can Spell 'Fiduciary' (April 26, 2008)Muni Bonds, Safe With High Yields (April 21, 2008)STRATEGIES; The Odds for a Retirement Nest Egg, Recalculated (April 20, 2008)Related Searches
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International versions of Google News available in:
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Now That Google Has Won
The collapse of Microsoft (NSDQ: MSFT)'s bid to acquire Yahoo (NSDQ: YHOO) has prompted Google (NSDQ: GOOG) watchers to ponder whether Google's dominance of search advertising poses any dangers for the Internet.
"Should it now be a cause for alarm that one company is in a position to control so much of the lifeblood of the Internet?" asked Financial Times writer Richard Waters in a May 12 article.
To hammer home the fear that drove Microsoft to acquire Yahoo in the first place, Silicon Alley Insider writer Henry Blodget asserted, " By this time next year, Google's search business will be larger and more profitable than the most profitable and legendary monopoly in history -- Microsoft Windows."
On Wednesday, the validity of such concerns was underscored by search market metrics released by Hitwise. "Google accounted for 67.90% of all U.S. searches in the four weeks ending April 26, 2008. Yahoo Search, MSN Search, and Ask.com each received 20.28%, 6.26% and 4.17%, respectively," Hitwise said.
For Google, that represents another market share increase. For Yahoo, Microsoft, and Ask, those numbers represent another decline. The biggest search share decline in the past 12 months belongs to Microsoft, or so it appears from a chart posted by Danny Sullivan over at Search Engine Land.
In answer to Waters' question, yes, it is cause for alarm, but also for celebration.
Google is alarming in the same way that Wal-Mart is alarming: It forces competitors to change.
Microsoft may not want to give up on the idea of selling word processing software to people for hundreds of dollars every few years, but Google, by making a free online alternative available, demonstrates the absurdity of the shrink-wrapped software business model. Sooner or later, Microsoft will have to come to terms with the fact that its golden goose has a terminal condition.
To date, Google has been restrained with its power. It has not, for example, floated ideas like abandoning network neutrality, as certain telecom companies have. In that respect, Google is less alarming than, say, AT&T.
But Google poses a threat by virtue of its extreme mobility, which is to say that it can enter information markets very quickly. Consider reports that Google has added a real estate search option to Google Maps. Suddenly, Google has become a potential competitor to Zillow.com.
If you run an Internet site or software company, that scenario has to be at least a bit alarming.
At the same time, today's open ecosystem has room for Google competitors. Microsoft will be a better one, five years from now, when Ray Ozzie's vision for the company becomes more fully realized. Yahoo may be one, if corporate raiders don't dismember it first. And maybe MySpace or Facebook will make their platform plays work. (Don't count Apple out, either.)
Until Google starts acting like a monopoly and abuses its market power, hold off on the alarm bells. Instead, celebrate the expanding information ecosystem that is emerging and try to bring great products to market.
YouTube beat Google Video, so it can be done (even if Google did end up buying YouTube to undo its defeat.)
« Yes, It’s Time To Destroy Your E-Mail Servers. What App Is Next? | Main | VMware Site Recovery Manager Is A Game Changer »
"Should it now be a cause for alarm that one company is in a position to control so much of the lifeblood of the Internet?" asked Financial Times writer Richard Waters in a May 12 article.
To hammer home the fear that drove Microsoft to acquire Yahoo in the first place, Silicon Alley Insider writer Henry Blodget asserted, " By this time next year, Google's search business will be larger and more profitable than the most profitable and legendary monopoly in history -- Microsoft Windows."
On Wednesday, the validity of such concerns was underscored by search market metrics released by Hitwise. "Google accounted for 67.90% of all U.S. searches in the four weeks ending April 26, 2008. Yahoo Search, MSN Search, and Ask.com each received 20.28%, 6.26% and 4.17%, respectively," Hitwise said.
For Google, that represents another market share increase. For Yahoo, Microsoft, and Ask, those numbers represent another decline. The biggest search share decline in the past 12 months belongs to Microsoft, or so it appears from a chart posted by Danny Sullivan over at Search Engine Land.
In answer to Waters' question, yes, it is cause for alarm, but also for celebration.
Google is alarming in the same way that Wal-Mart is alarming: It forces competitors to change.
Microsoft may not want to give up on the idea of selling word processing software to people for hundreds of dollars every few years, but Google, by making a free online alternative available, demonstrates the absurdity of the shrink-wrapped software business model. Sooner or later, Microsoft will have to come to terms with the fact that its golden goose has a terminal condition.
To date, Google has been restrained with its power. It has not, for example, floated ideas like abandoning network neutrality, as certain telecom companies have. In that respect, Google is less alarming than, say, AT&T.
But Google poses a threat by virtue of its extreme mobility, which is to say that it can enter information markets very quickly. Consider reports that Google has added a real estate search option to Google Maps. Suddenly, Google has become a potential competitor to Zillow.com.
If you run an Internet site or software company, that scenario has to be at least a bit alarming.
At the same time, today's open ecosystem has room for Google competitors. Microsoft will be a better one, five years from now, when Ray Ozzie's vision for the company becomes more fully realized. Yahoo may be one, if corporate raiders don't dismember it first. And maybe MySpace or Facebook will make their platform plays work. (Don't count Apple out, either.)
Until Google starts acting like a monopoly and abuses its market power, hold off on the alarm bells. Instead, celebrate the expanding information ecosystem that is emerging and try to bring great products to market.
YouTube beat Google Video, so it can be done (even if Google did end up buying YouTube to undo its defeat.)
« Yes, It’s Time To Destroy Your E-Mail Servers. What App Is Next? | Main | VMware Site Recovery Manager Is A Game Changer »
INDIANS ABROAD
Britain's first Asian woman Lord Mayor
15 May 2008, 1320 hrs IST
Ludhiana-born Manjula Sood, a High Bailiff of Leicester till now, will become the first Asian woman Lord Mayor of Britain.
Indian workers to go on strike in US
14 May 2008, 2012 hrs IST
A group of Indian guest workers will launch a hunger strike in front of the White House to demand protection from "exploitation" by US companies.
Indian community in US condemns Jaipur blasts
14 May 2008, 1001 hrs IST
Calling for a thorough probe into the blasts, the Indian community in US demanded harshest punishment for the culprits.
Indian moneylender killed in Philippines
14 May 2008, 0447 hrs IST , IP Singh
Paramjit Singh, a youth from Jalandhar, had gone to Philippines two years back and taken up the money-lending business.
Sikh student's turban set afire in New York
13 May 2008, 1739 hrs IST
The incident of a high school student setting a Sikh schoolmate's 'patka' afire in New Jersey, has invited the ire of the community.
Stabbed Indian student released from hospital
13 May 2008, 1412 hrs IST
The Indian student working as a taxi driver, who was brutally stabbed and left bleeding on the roadside here, has made a "miraculous" recovery and released from the hospital.
British Film Institute not to screen The Love Guru
13 May 2008, 1352 hrs IST
The British Film Institute has assured Hindu groups in the US that it would not release The Love Guru, which allegedly hurt religious sentiments.
Bodies of 6 car crash victims still in US
13 May 2008, 0939 hrs IST
The bodies of 6 Indian car crash victims will be flown back after completion of certain formalities by Wednesday.
'7ft-tall man killed Indian girl in UK'
13 May 2008, 0117 hrs IST
Nalluri Nagaraju Kumar has claimed that Jyothirmayi was murdered by a masked man, who was about seven-feet tall.
NRIs in UAE seek compensation for rupee rise
12 May 2008, 1535 hrs IST
NRIs in UAE have asked for compensation from India as the rupee appreciation affected their remittances back home.
Next >>
Other News
Pak troops fire on border post in Kashmir
Jaipur blasts: RDX used, HuJI suspected
US offers help in probing Jaipur serial blasts
UN warns of 'second catastrophe' in Myanmar
Videos Pictures
Foreign players keen to complete IPL stint
Martyr's widow breaks down at award ceremony
Australian man hacks family to death
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Terror strikes Jaipur
Serial blasts rocked Jaipur on Tuesday killing at least 80 people.
Earthquake in China | Border violence continues
My Times , My Voice
Has Lucknow been marketed properly as a popular tourist destination?
What is the primary reason for India being susceptible to recurring terror attacks?
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US jobless claims rise 6,000 in latest week (1812hrs)
India extends ban on LTTE by two years (1735hrs)
Two killed after being pushed out of bus in Orissa (1705hrs)
Tribal militants kill 11 in Assam (1657hrs)
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15 May 2008, 1320 hrs IST
Ludhiana-born Manjula Sood, a High Bailiff of Leicester till now, will become the first Asian woman Lord Mayor of Britain.
Indian workers to go on strike in US
14 May 2008, 2012 hrs IST
A group of Indian guest workers will launch a hunger strike in front of the White House to demand protection from "exploitation" by US companies.
Indian community in US condemns Jaipur blasts
14 May 2008, 1001 hrs IST
Calling for a thorough probe into the blasts, the Indian community in US demanded harshest punishment for the culprits.
Indian moneylender killed in Philippines
14 May 2008, 0447 hrs IST , IP Singh
Paramjit Singh, a youth from Jalandhar, had gone to Philippines two years back and taken up the money-lending business.
Sikh student's turban set afire in New York
13 May 2008, 1739 hrs IST
The incident of a high school student setting a Sikh schoolmate's 'patka' afire in New Jersey, has invited the ire of the community.
Stabbed Indian student released from hospital
13 May 2008, 1412 hrs IST
The Indian student working as a taxi driver, who was brutally stabbed and left bleeding on the roadside here, has made a "miraculous" recovery and released from the hospital.
British Film Institute not to screen The Love Guru
13 May 2008, 1352 hrs IST
The British Film Institute has assured Hindu groups in the US that it would not release The Love Guru, which allegedly hurt religious sentiments.
Bodies of 6 car crash victims still in US
13 May 2008, 0939 hrs IST
The bodies of 6 Indian car crash victims will be flown back after completion of certain formalities by Wednesday.
'7ft-tall man killed Indian girl in UK'
13 May 2008, 0117 hrs IST
Nalluri Nagaraju Kumar has claimed that Jyothirmayi was murdered by a masked man, who was about seven-feet tall.
NRIs in UAE seek compensation for rupee rise
12 May 2008, 1535 hrs IST
NRIs in UAE have asked for compensation from India as the rupee appreciation affected their remittances back home.
Next >>
Other News
Pak troops fire on border post in Kashmir
Jaipur blasts: RDX used, HuJI suspected
US offers help in probing Jaipur serial blasts
UN warns of 'second catastrophe' in Myanmar
Videos Pictures
Foreign players keen to complete IPL stint
Martyr's widow breaks down at award ceremony
Australian man hacks family to death
More Videos
Specials
Terror strikes Jaipur
Serial blasts rocked Jaipur on Tuesday killing at least 80 people.
Earthquake in China | Border violence continues
My Times , My Voice
Has Lucknow been marketed properly as a popular tourist destination?
What is the primary reason for India being susceptible to recurring terror attacks?
More >>
No place like home
Pulse: Debate on hot Indian issues
Lifestyle: Stay updated on the latest trends
People: Famous Indian personalities
Latest
News Most
Read Most
Emailed Most
Commented
US jobless claims rise 6,000 in latest week (1812hrs)
India extends ban on LTTE by two years (1735hrs)
Two killed after being pushed out of bus in Orissa (1705hrs)
Tribal militants kill 11 in Assam (1657hrs)
More »
Horoscope
Aries Taurus Gemini Cancer Leo Virgo Libra Scorpio Sagittarius Capricorn Aquarius Pisces
ePaper: Print Edition
Get the replica of your favourite edition of Times of India Feel at home..
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Ghost Rider Rs. 290
Chrono watch Rs 200
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Travel: Hotels
Goa Rs 836
Agra Rs 575
Jaipur Rs 993
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Mobile 58888
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Copyright © 2008 Times Internet Limited. All rights reserved. For reprint rights: Times Syndication Service
This site is best viewed with Internet Explorer 6.0 or higher; Firefox 2.0 or higher at a minimum screen resolution of 1024x768
Weak rupee may not bail out exporters
15 May 2008, 0052 hrs IST , M Allirajan
The rupee breaching the Rs 42-mark to the dollar may have brought some relief to exporters, who were hit hard by a strong rupee and high input costs.
Cement, steel makers agree to cut prices
15 May 2008, 0107 hrs IST
Steel secretary RS Pandey has said that the secondary steel producers have assured that they will hold the new reduced price line for the next three months.
DoT dials PM, finmin on spectrum
15 May 2008, 0109 hrs IST , Shalini Singh
TRAI is now insisting that 3G auctions be restricted to existing UAS (universal access service) licensees (2G) alone, which, by keeping out aggressive global bidders threatens to have a restrictive effect on prices.
All Business headlines >>
Intl Business India Business
Worst of financial crisis over: IMF chief
15 May 2008, 1655 hrs IST
The worst of the financial sector crisis is over although the impact on the broader economy will likely drags on in coming months, IMF managing director Dominique Strauss-Kahn said.
More Stories
'No global recovery before '09'
Vijay Bhatnagar appointed ArcelorMittal India CEO
MySpace wins $230M spam judgment, believed to be largest ever
Mittal is chairman of ArcelorMittal
'US slowdown to hit Asia in mid-2008'
Benchmarks end over 2% higher
15 May 2008, 1642 hrs IST
Buying interest towards end of trade saw benchmarks end sharply higher on Thursday. Reliance Communications and Hindalco Industries both up over 5 per cent were major benchmark gainers.
More Stories
Core infrastructure growth at 9.6 pc
FM for further cut in cement prices
SEBI clears Reliance Infratel IPO
Sensex opens 160 points up
DoT dials PM, finmin on spectrum
More >>
More >>
Market
Mkt. statistics
Powered by The Economic Times
Videos Pictures
Foreign players keen to complete IPL stint
Martyr's widow breaks down at award ceremony
Australian man hacks family to death
More Videos
Specials
Terror strikes Jaipur
Serial blasts rocked Jaipur on Tuesday killing at least 80 people.
Earthquake in China | Border violence continues
My Times , My Voice
Has Lucknow been marketed properly as a popular tourist destination?
What is the primary reason for India being susceptible to recurring terror attacks?
More >>
Latest
News Most
Read Most
Emailed Most
Commented
US jobless claims rise 6,000 in latest week (1812hrs)
India extends ban on LTTE by two years (1735hrs)
Two killed after being pushed out of bus in Orissa (1705hrs)
Tribal militants kill 11 in Assam (1657hrs)
More »
Horoscope
Aries Taurus Gemini Cancer Leo Virgo Libra Scorpio Sagittarius Capricorn Aquarius Pisces
ePaper: Print Edition
Get the replica of your favourite edition of Times of India Feel at home..
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Ghost Rider Rs. 290
Chrono watch Rs 200
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Travel: Hotels
Goa Rs 836
Agra Rs 575
Jaipur Rs 993
More >>
Mobile 58888
News on the move
Rib-tickling jokes
More >>
About Us | Advertise with Us | Careers @ TIL | Terms of Use | Privacy Policy | Feedback | Sitemap
Copyright © 2008 Times Internet Limited. All rights reserved. For reprint rights: Times Syndication Service
This site is best viewed with Internet Explorer 6.0 or higher; Firefox 2.0 or higher at a minimum screen resolution of 1024x768
15 May 2008, 0052 hrs IST , M Allirajan
The rupee breaching the Rs 42-mark to the dollar may have brought some relief to exporters, who were hit hard by a strong rupee and high input costs.
Cement, steel makers agree to cut prices
15 May 2008, 0107 hrs IST
Steel secretary RS Pandey has said that the secondary steel producers have assured that they will hold the new reduced price line for the next three months.
DoT dials PM, finmin on spectrum
15 May 2008, 0109 hrs IST , Shalini Singh
TRAI is now insisting that 3G auctions be restricted to existing UAS (universal access service) licensees (2G) alone, which, by keeping out aggressive global bidders threatens to have a restrictive effect on prices.
All Business headlines >>
Intl Business India Business
Worst of financial crisis over: IMF chief
15 May 2008, 1655 hrs IST
The worst of the financial sector crisis is over although the impact on the broader economy will likely drags on in coming months, IMF managing director Dominique Strauss-Kahn said.
More Stories
'No global recovery before '09'
Vijay Bhatnagar appointed ArcelorMittal India CEO
MySpace wins $230M spam judgment, believed to be largest ever
Mittal is chairman of ArcelorMittal
'US slowdown to hit Asia in mid-2008'
Benchmarks end over 2% higher
15 May 2008, 1642 hrs IST
Buying interest towards end of trade saw benchmarks end sharply higher on Thursday. Reliance Communications and Hindalco Industries both up over 5 per cent were major benchmark gainers.
More Stories
Core infrastructure growth at 9.6 pc
FM for further cut in cement prices
SEBI clears Reliance Infratel IPO
Sensex opens 160 points up
DoT dials PM, finmin on spectrum
More >>
More >>
Market
Mkt. statistics
Powered by The Economic Times
Videos Pictures
Foreign players keen to complete IPL stint
Martyr's widow breaks down at award ceremony
Australian man hacks family to death
More Videos
Specials
Terror strikes Jaipur
Serial blasts rocked Jaipur on Tuesday killing at least 80 people.
Earthquake in China | Border violence continues
My Times , My Voice
Has Lucknow been marketed properly as a popular tourist destination?
What is the primary reason for India being susceptible to recurring terror attacks?
More >>
Latest
News Most
Read Most
Emailed Most
Commented
US jobless claims rise 6,000 in latest week (1812hrs)
India extends ban on LTTE by two years (1735hrs)
Two killed after being pushed out of bus in Orissa (1705hrs)
Tribal militants kill 11 in Assam (1657hrs)
More »
Horoscope
Aries Taurus Gemini Cancer Leo Virgo Libra Scorpio Sagittarius Capricorn Aquarius Pisces
ePaper: Print Edition
Get the replica of your favourite edition of Times of India Feel at home..
View ePaper
Shop
Ghost Rider Rs. 290
Chrono watch Rs 200
More >>
Travel: Hotels
Goa Rs 836
Agra Rs 575
Jaipur Rs 993
More >>
Mobile 58888
News on the move
Rib-tickling jokes
More >>
About Us | Advertise with Us | Careers @ TIL | Terms of Use | Privacy Policy | Feedback | Sitemap
Copyright © 2008 Times Internet Limited. All rights reserved. For reprint rights: Times Syndication Service
This site is best viewed with Internet Explorer 6.0 or higher; Firefox 2.0 or higher at a minimum screen resolution of 1024x768
Tiny Bodies in a Morgue, and Grief in China
JUYUAN, China — The bodies are everywhere. Some are zipped inside white vinyl bags and strewn on the floor. Others have been covered in a favorite blanket or dressed in new clothes. There are so many bodies that undertakers want to cremate them in groups. They are all children.
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Shiho Fukada for The New York Times
Parents at a makeshift morgue on Wednesday in Juyuan, China, held the body of their child, killed in Monday’s earthquake. More Photos »
Multimedia
Photographs
Grief in Juyuan
Related
Chinese Soldiers Rush to Bolster Weakened Dams (May 15, 2008) “Our grief is incomparable,” said Li Ping, 39, eyes rimmed red, as he and his wife slowly, carefully pulled a pair of pink pajamas over the bruised, naked body of their 8-year-old daughter, Ke. “We got married late, and had a child late. She is our only child.”
The earthquake that struck Sichuan Province on Monday has so far claimed more than 19,000 lives across China, and thousands more people remain missing or trapped beneath rubble. But the awful scene at this local morgue is a sad reminder that too many of the dead are children in a country where most families are allowed to have only one.
These children symbolized the earthquake’s seemingly indiscriminate cruelty. But the cruelty, in the eyes of their parents, was also man-made.
Several schools in nearby Dujiangyan collapsed while classes were under way. On Tuesday, Prime Minister Wen Jiabao visited two of them, including Xinjian Primary School, where parents say officials told him the death toll was 20 pupils.
“I am Grandpa Wen Jiabao,” the prime minister said as he watched two children being pulled from the rubble, according to Xinhua, the official state news agency. “Hold on, kids! You’ll definitely be rescued.”
But enraged parents interviewed at the morgue on Wednesday afternoon and early Thursday morning say local officials lied to the prime minister to hide the true toll at Xinjian, which they estimate at more than 400 dead children. Several parents blamed local officials for a slow initial rescue response and questioned the structural safety of the school building. They were also furious that officials forbade them to search for their children for two days and then allowed access to the bodies only after the parents formed an ad hoc committee to complain.
“Before Wen Jiabao came, the whole school was filled with children’s bodies,” said one mother who sat outdoors at the morgue with her husband in the early morning darkness beside the covered body of their 8-year-old daughter. “Her father and I had stood outside the school since the earthquake. We pleaded with the government: ‘If she is dead, I want to see the body. If she is alive, I want to see her.’ ”
Her husband, a thin man, leaned forward into the yellow light of two candles. “We’re telling you the truth,” he said. “Get the truth out.”
The morgue is an hour outside Dujiangyan on an isolated rural road, yet the parking lot was filled at 1:50 a.m. on Thursday. Parents and other family members clustered around the bodies of their children. Some burned fake money to bring their lost child good fortune in the afterlife. In one room, 25 small bodies were scattered on the floor. Some children had already been taken away; an empty white body bag lay near a sneaker and a filthy pair of boy’s trousers. Some families had placed flowers or incense inside empty water bottles as makeshift memorials.
“There are more in there,” said a man, pointing to a rear door. He walked outside to a walkway and paused. Scores of bodies, covered with sheets, were lined in two long rows on the concrete floor. Others were placed in an adjacent room. Parents sobbed or sat silently beside bodies.
“They are all students,” said the man in the blue shirt. “Look,” he said pointing to a red and white jacket folded beside one body. “That is the school uniform.” He pointed to a Mickey Mouse backpack. “There is a book bag.”
The two rows of bodies came to an open door that led to the large steel furnaces used for cremation. In China, the dead are almost always cremated fairly soon after death. Usually, there is enough time for funeral ceremonies and rituals, but parents said that officials were worried about cremating so many bodies before they started to decompose. So some parents have been asked if their children can be cremated with dead friends to save time.
1 2 Next Page »
Zhang Jing contributed research.
Skip to next paragraph
Enlarge This Image
Shiho Fukada for The New York Times
Parents at a makeshift morgue on Wednesday in Juyuan, China, held the body of their child, killed in Monday’s earthquake. More Photos »
Multimedia
Photographs
Grief in Juyuan
Related
Chinese Soldiers Rush to Bolster Weakened Dams (May 15, 2008) “Our grief is incomparable,” said Li Ping, 39, eyes rimmed red, as he and his wife slowly, carefully pulled a pair of pink pajamas over the bruised, naked body of their 8-year-old daughter, Ke. “We got married late, and had a child late. She is our only child.”
The earthquake that struck Sichuan Province on Monday has so far claimed more than 19,000 lives across China, and thousands more people remain missing or trapped beneath rubble. But the awful scene at this local morgue is a sad reminder that too many of the dead are children in a country where most families are allowed to have only one.
These children symbolized the earthquake’s seemingly indiscriminate cruelty. But the cruelty, in the eyes of their parents, was also man-made.
Several schools in nearby Dujiangyan collapsed while classes were under way. On Tuesday, Prime Minister Wen Jiabao visited two of them, including Xinjian Primary School, where parents say officials told him the death toll was 20 pupils.
“I am Grandpa Wen Jiabao,” the prime minister said as he watched two children being pulled from the rubble, according to Xinhua, the official state news agency. “Hold on, kids! You’ll definitely be rescued.”
But enraged parents interviewed at the morgue on Wednesday afternoon and early Thursday morning say local officials lied to the prime minister to hide the true toll at Xinjian, which they estimate at more than 400 dead children. Several parents blamed local officials for a slow initial rescue response and questioned the structural safety of the school building. They were also furious that officials forbade them to search for their children for two days and then allowed access to the bodies only after the parents formed an ad hoc committee to complain.
“Before Wen Jiabao came, the whole school was filled with children’s bodies,” said one mother who sat outdoors at the morgue with her husband in the early morning darkness beside the covered body of their 8-year-old daughter. “Her father and I had stood outside the school since the earthquake. We pleaded with the government: ‘If she is dead, I want to see the body. If she is alive, I want to see her.’ ”
Her husband, a thin man, leaned forward into the yellow light of two candles. “We’re telling you the truth,” he said. “Get the truth out.”
The morgue is an hour outside Dujiangyan on an isolated rural road, yet the parking lot was filled at 1:50 a.m. on Thursday. Parents and other family members clustered around the bodies of their children. Some burned fake money to bring their lost child good fortune in the afterlife. In one room, 25 small bodies were scattered on the floor. Some children had already been taken away; an empty white body bag lay near a sneaker and a filthy pair of boy’s trousers. Some families had placed flowers or incense inside empty water bottles as makeshift memorials.
“There are more in there,” said a man, pointing to a rear door. He walked outside to a walkway and paused. Scores of bodies, covered with sheets, were lined in two long rows on the concrete floor. Others were placed in an adjacent room. Parents sobbed or sat silently beside bodies.
“They are all students,” said the man in the blue shirt. “Look,” he said pointing to a red and white jacket folded beside one body. “That is the school uniform.” He pointed to a Mickey Mouse backpack. “There is a book bag.”
The two rows of bodies came to an open door that led to the large steel furnaces used for cremation. In China, the dead are almost always cremated fairly soon after death. Usually, there is enough time for funeral ceremonies and rituals, but parents said that officials were worried about cremating so many bodies before they started to decompose. So some parents have been asked if their children can be cremated with dead friends to save time.
1 2 Next Page »
Zhang Jing contributed research.
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