Takeaway
“Some of the documents have recommendations for when you may be able to safely purge a specific item,” says Steuer, who actually thinks that certain documents must be shredded in order to help prevent identity theft.
“If there is no purge date, you’ll probably want to keep that document forever or use your best judgment on how long to keep it. Personally, I keep items in files for seven years for any closed account with all of my tax documentation, and after seven years, I destroy the physical documents— but I keep digital copies forever,” he added.
3 thoughts on “8 Important Documents You Should NEVER Throw Away”
This is good organization technique I keep mine in my safe deposit box
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.
GREAT ADVISE