What Personal Documents Should You Keep and for How Long?
We are often asked about how long specific records should be kept. Discarding records that should be kept poses a wide range of potential tax and legal problems. Keeping reports too long wastes precious space and resources. But how long should you keep personal documents on record?The following are just a few suggestions about how long you should keep personal finance and investment records on file:
Household Inventory - Forever; update as needed
Service Contracts and Warranties - Until you sell or discard the item warrantied
Social Security Statement - Until you get your new statement
Tax Records - At least 4, up to 10 years from the filing date
You can view the full list by clicking on Record Retention Guidelines