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Paperwork to Keep and Paperwork to Shred

People tend to keep every piece of paperwork in their lives even the ones that they could do without. To avoid clutter, you want to try hard and only keep the documents you need. Clutter is a problem that many people suffer from. If you are a victim of clutter, you should worry less because there are ways you could make your wok easier. this article will give you some of the tips and tricks you could take advantage. Read on to find out more about the different paperwork you should keep and the ones you should consider shredding.

First it is important that you keep a copy of anything that is federal or state related. Things like marriage licenses, loan documents, house deeds plus much more are some of those documents. You want to ensure that you have a copy of such document to avoid going through a stressful time trying to replace them. Most importantly, you will be able to easily locate them when the time to use them comes. Documents like insurance policies, loan documents, pension plans and much more should be stored away together in a safe and preferably fireproof place.

Second, there are documents you ought to keep the latest versions of. As long as you have a copy of them with you, you will not have to worry. 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. Doing that is important because you never know when such information might be needed. You do not want to be inconvenienced when the time comes to provide such information.

The other important thing you want to do is to ensure that you keep every page of your medical records and healthcare bills for not less than twelve months after payment so that you are in good books with your insurance provider.

It is prudent that you also keep all the latest versions of your social security statements, annual insurance policy documents plus your retirement plan statements. Additionally, you want to ensure that you keep any document relating to property sale or purchase for about six years after selling. These could come in handy in the future.