Time to Collect Your Financial Documents

January 15, 2009


I have a tendency to keep all sorts of financial documents. Statements about my 4091k, bank statements, cancelled checks, deposit slips, credit card receipts, tax bills and tax returns, etc., etc, etc.


I happened across an article (actually an ad for Consumer Reports Magazine) that had a chart tossing those financial documents. I share the information with you.


Bank-deposit slips..............................................After you reconcile the statements


Canceled checks..................................................Generally after 1 year,


..............................................................................7 years for checks that support tax filings


Loan documents.................................................Not until you repay the loan


Product receipts.................................................When the warranty expires


Credit card receipts...........................................When you get your monthly statement and . ..............................................................................it matches your purchases


401(k) statements.............................................When you get a new one


Personal state and federal

tax returns and supporting documents..........After 7 years





When you toss remember to shred. If you look on line at http://www.switchboard.com/ or in the Yellow pages, you can find a mobile shredding company. If you have very much to shred, they are very beneficial for not a lot of money.