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