I am a year late but I am planning to start working on my paper piles. Actually it looks like iheartorganizing has declared this home office organization month so I'm right on time. Going to focus on just trying to get paper organized first though. I plan to utilize some of the ideas I found in the following blog posts (thanks iheartorganizing).
Step 1
I found the following table:
Keep these documents at home | |
Documents | When to toss them |
Bank deposit slips | After you reconcile your statements |
Banking statements | After a calendar year; store with tax returns if they will be used to prove deductions |
Brokerage, 401(k), IRA, Keogh, and other investment statements | Shred monthly and quarterly statements as new ones arrive; hold on to annual statements until you sell the investments |
Credit-card bills | After you check and pay them, unless you need them to support tax filings |
Employer defined-benefit plan communications | Never |
Household warranties and receipts | After you no longer own the household items |
Insurance policies | After you renew them |
Investment purchase confirmations and 1099s | Hold until you sell the securities, then keep with your tax records for an additional seven years |
Pay stubs | After you reconcile them with your W-2 |
Receipts | After you reconcile them with your credit-card or bank statement unless needed for a warranty |
Safe-deposit box inventory | Never, but review and update annually |
Savings bonds | Cash them in when they mature |
Social Security statements | When you get a new statement, then shred the old one |
Tax returns and supporting documents | After seven years |
Keep these in a safe-deposit box | |
Documents | When to toss them |
Birth and death certificates | Never |
Estate-planning documents | Never |
Life-insurance policies | Never, or when a term policy has ended |
Loan documents | After you sell your home, automobile, boat, or whatever the loan was for |
Marriage licenses and divorce decrees | Never |
Military discharge papers | Never |
Social Security cards | Never |
Vehicle titles | After you sell the car, boat, motorcycle, or other vehicle |
Step 2
Step 3
Step 4
Step 5
I plan to post updates as this progresses. This is part of a bigger effort starting with papers trying to get the whole house looking closer to what I see on iheartorganizing's blog.
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