So, how much of my 3" packet of papers do I keep?
I'm a senior and really need to lighten the loads of papers that I have kept over the years.
You might want to consider picking up an inexpensive high speed scanner. It would scan that 3" packet of documents in about two minutes. You could get through a four drawer filing cabinet in a week. FREEDOM!
If you don't want to store them electronically:
I would keep a few things until you sell the house: purchase and sale agreement, any title insurance documents, settlement statement and seller's disclosure. If you have a letter of reconveyance from the mortgage company, you could toss mortgage documents. I'd keep any 1099s of interest paid for at least seven years unless you did not have enough mortgage interest to itemize your deductions. And of course, you should have a file of receipts for all improvements that would reduce your capital gain upon sale.
I have kept all of mine. You need to make sure it is watertight when you pass and someone inherits.
in court the colords play the race card....you play the senior card....scan it to disk.....you not too old
Keep all of it!
