Recently, a client of mine described having to go through about 30 years of their father’s financial records after he had passed away. Needless to say, that’s not an easy task, especially when you’re not entirely sure what to look for, what to keep, and what to throw away. And, here’s the real point: most of us save more paper records than we need. One really nice legacy NOT to leave behind are massive piles of redundant, out of date financial records.
Here’s a list of what to keep and how long to keep it. Do your children a favor — throw away the rest.
Things you should keep forever–in a safe or in your safe deposit box: