Top Documents To Keep Long-Term – 101 Financial

Top Documents To Keep Long-Term

Top Documents To Keep Long-Term

Ever wonder which documents you need to hold on to for a long, long time?

Well today we will cover the top important documents you need to keep for the long-term.

As a note, the IRS does allow you to keep your financial documents in electronic format.

Here is what you should keep for 3 years:

Income Tax Returns – In some cases you might have to keep your returns for up to 6 years or more. Personally I would keep these permanently.

Records of selling a house, records of selling stocks, medical bills, canceled insurance policies and records of paid off loans.

Here is what you need to keep while still active:

Contracts, insurance documents, stock certificates, property records, stock records, pension and retirement plan as well as home improvement records.

Now the follow should be kept permanently:

Paid off mortgages, marriage licenses, birth certificate, wills, trusts, adoption papers and death certificates.

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