How Long Should You Keep Old Documents?

The other day I was filling out tax information for my accountant. I had to find some information from last year. That’s when my lackadaisical approach to filing came back to haunt me.

You see, three years ago, when I had two children born just 17 months apart, my previous organizational skills disappeared. Because I was in survival mode, rather than filing my paperwork, I stacked it in the corner, intending to get to it when things settled down.

Well, life never quite settled down, and now, three years later, the “pile” has grown into multiple piles. Apparently, I’m in good company. According to Consumers Report, “Unfortunately, only 40 percent of Americans think they can find a document at a moment’s notice, and only 49 percent can do so with a little looking.”

The idea of filing all that paperwork is overwhelming. Besides, how much of that paperwork do I really have to keep, and how much can I shred?