3. Investment records
Any investment related paper such as trade confirmations or statements should be kept at least six years after the investment. Plus, when you keep the original trade confirmations which gives you info on cost basis, you can keep track of your capital gains and losses.
4. Credit card statements and documents
As we said it before, unless they are related to taxes, you can discard statements and receipts right after reconciling statement. However, if you want to return a certain purchase, you should definitely keep that receipt.
Next, we hope you borrow this sound advice…..
25 thoughts on “8 Important Documents You Should NEVER Throw Away”
This is good organization technique I keep mine in my safe deposit box
It’s nice to see you want to save these 8 items but your site can’t be reached. It looks Iike this site is taking me all over the place and nothing is about the 8. nfo may be good but
I wish I would have kept my 1988 tax forms because Social Security went back 31 years when I applied for disability and was granted in 2019. Since I couldn’t prove I made the amount that was on Social Security Statement for that year by not saving that years paperwork, Social Security cut that amount in half which affects my monthly disability payments. IRS doesn’t keep records for that long either
So I suggest people should save their tax records till death then family members can dispose of them then.
It sounds like good advice, but the government is now telling people not to keep tax returns before 2020. Why is that?
GREAT ADVISE
Credit card company and banks are going to monthly e-statements online. If a relative passes away, how do survivors know where the relative’s assets and liabilities are? When my Mom passed away, the survivors figured her assets and liabilities from “paper” statement mailed to her home address. I asked this question to several banks and CC companies and even the federal regulators, and there were no aaceptable response at all. They implied that is not their problem and this is a problem of the family to make arrangement. I therefore insist on paper statements.
Where’s the article?
I would add employment records, especially government employment. I worked for OPM and discovered they did not have my unused sick leave from previous service. I had paper copies from 20 years before and they restored my leave. BTW, it saved my life. I was able to retire one year earlier because of this. 30 days later, I suffered a 5-way heart bypass at home and was rushed to a life-savinh hospital. Without early retirement, I would probably have been on a c9mmuter bus, stuck in traffic, not a good Outlook.
Great advice and the timing was helpful for those of us who already keep these things but do not know when we can shred the physical copies.
I appreciate your comments. Can you tell/explain to the people on your page how to create a “will”
Thanks
Content is COMPLETELY covered by ads on my android. What a waste of time.
I visited Kruger National Park about 1970 when i was young wiith a few friends. Nobody went there then. We had to stay in a thatched hut. We had to be back within the big gate before dark It was wild and wonderful!
Excellent advice. I have maintained every document/record you mentioned here. Where I fail is not having everything in one place. Thank you not only confirming that I am on the right track with what documents should be kept but also giving me a wake up call as to being proactive in having a centralized system.
Excellent information this is very helpful to everyone so thank you for taking time to share and improve the lives of others
This could be a good article with vital information. But WHY do we have go to 500 pages for the information. Why can’t it just be one article, single page form.
Dare to be different, go back to the old format!!!!!!!!
Make videos shorter and to the point.
you forgot car titles, military records (DD214),wills trust documents, digital records (passwords,pins) ,deeds
and critical-tell Family members WERE ARE ALL THESE DOCUMENTS!
and safe deposit box? NO difficult to access upon death of box owner- need at least a death certificate and more to open (and where is key?)
thankyou for the imformation , what about home sales paper and decese paper.?
Great information, very helpful and very educative, thanks.
Why did you not mention a final Will, Advance Directives, Medical Power of Attorney, Financial Power of Attorney?
If you refinance your home should you keep the old papers. TY
Ever since we married in 1975 my wife and I been filing joint tax returns. now I got a letter (supously) from IRS saing that she own taxex from 2006. In 2006 she was not working (we sold our Landscaping business in 2001). We always had our taxes done by a licenses CPA. She pass away last year in July 2024 and now I’m getting this letter only on her name (even we always file joint returns). What is your advise?
Put the information on one page not this click to next page garbage. I don’t play that game
Unbelievable, but good advice.