Lots of people I know, especially those who grew up during the depression era or were taught about money by those who did, were told that when it comes to financial documents, you save EVERYTHING. It becomes an issue when there’s no more room in the filing cabinet. My grandfather had copies of his tax forms as far back as to 1947 or so. Imagine what a huge shredding job that was.
Clients often ask if this document or that needs to be saved or can be tossed/shredded, and so many resources vary in their answers.
So when I came across this ad, it captured my attention:
I checked the link and found a simple, straightforward template from BMO Harris* on what documents to save and for how long.
It’s a great resource if you’re looking for ways to minimize your filing collection, particularly for financial documents. I love that a bank is providing resources on their website on which documents to save, although I recommend talking to your financial adviser if you have specific questions.
If you are facing a filing project and need help getting started, I’m only a phone call/email away.
*Soloff Space Solutions does not endorse any particular bank or financial institution, but admires the resource this bank offers to the public.
Thanks to my mom for pointing out this ad to me.