Ric Edelman, a financial planner, suggests a list of financial/legal documents that you need to keep and what you can shred. He categorizes into five groups: originals you rarely need, originals you sometimes need, other documents, tax documents and investment documents. He suggests for each document on What to Keep, Where to Store, and When to Shred. The list is pretty good reference, especially the “when to shred” column:
The financial services industry certainly produces a lot of paper! Here’s what you need to keep and when you can trash it.
Start by stacking all the paper in one big pile. Check your drawers (home and work), filing cabinets, folders, boxes, glove compartments, even your safe deposit box. Then separate the papers into these five group…
Documents: What to Keep – Where to Store – When to Shred – [Ric Edelman]