In our world of less paper we still need to keep original records on hand “just in case”, and here is the breakdown:

  1. 1 month
    1. Credit card receipts
    2. Sales receipts on minor purchases
    3. Bank receipts, after your actions have posted then toss
  2. 1 year
    1. Pay stubs
    2. Mutual fund and retirement
  3. 6 years
    1. W-2’s, 1099s and any additional information that contributes to your taxes
    2. Year end credit card statements, brokerage and mutual fund summeries (these could be scanned and tossed)
  4.  Keep Indefinitely
    1. Tax returns
    2. Receipts of major purchases
    3. Real estate and residence records
    4. Wills and trusts
  5. Safe Deposit Box
    1. Birth and death certificates
    2. Marriage license
    3. Insurance Policies

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