Paperwork to Keep and What to Shred
People tend to keep every piece of paperwork in their lives even the ones that they could do without. As much as some might be important, some could be introduced to Mr. Shredder. The last thing you want is to lose the most important documents because of too much paperwork around work or office. The good news is that there re several methods you could use to escape such problems. This article is going to focus on how you could overcome pile of paperwork once and for all. Here is a list of different paperwork you should pop in a safe and others you could shred for the sake of recycling.
First, you want ensure that you keep a copy of anything that is state related or of federal matter. They include documents like social security cards, birth certificates, death certificates plus much more. Failure to keep copies of such documents, you might end up going through a tough time to get them replaced. Most importantly, you will be able to easily locate them when the time to use them comes. You also want to consider string documents like insurance policies, pension plan and much more in safe and fire proof places to avoid unnecessary inconveniences.
Second, there are these that you need to keep the latest versions of for a while. It is therefore important to note that no matter whether you have a physical copy of such documents or you scan them and store in your computer-as long as you have a copy with you, you will be good to go. For instance, you want to ensure that you keep all your tax records and receipts for up to seven years just in case the taxman pays you a visit, you decide to join the business world, intend to buy property or even want to take loan for personal use.
You are also required to keep your bank statements for about a year. If that is not the case, you want to use a pay stub generator and start now, which is a brilliant idea, as you will never know when you will need to provide proof of your income in future. Failure to do so, you might not be able to achieve some of your goals when the time comes because there are situations you will have to provide such information.
In order to be in good terms with your insurance providers, you want to ensure that you keep every page of your medical records and healthcare bills for up to twelve months after making payments.
It is also advised that you keep all the latest versions of your annual insurance policy documents, social security statements and your retirement plan too. In addition, it is also advised that you keep any document relating to property sale, renovation, improvement job or purchase for approximately six years after selling it. Doing so will make your work easier in the future as you will know more about what to do.