Record Retention…When to Keep, When to Shred

Are you buried in records and documents and you’re not sure where to start? Are you confused about record retention timelines, or even what you should worry about keeping? Read on for some helpful tips!

To Your Success, Renee and Team

Record Retention…When to Keep, When to Shred
By: Renee Daggett

Do you know how long you are supposed to keep documents?  Do you know when it’s safe
to shred?  Having this knowledge is the first step to good recordkeeping. By following these guidelines, you can keep your documents and files organized and updated. Avoid keeping things you don’t need – or discarding something you should have kept permanently!

First—categorize your documents. Examples include past tax returns and supporting documentation, medical information, purchase contracts for large assets, legal matters, employment information, insurance records, property deeds, etc.

Second—determine how you will store your records.  Do you want to archive everything digitally?  Do you prefer to keep paper copies?  When considering how to store your records, think about worst-case scenarios such as fire, burglary, natural disaster, or even something as simple as snooping family members.  Regardless of how you store your records, they should always be easily accessible.

Third—label documents with a “keep until” date.  Refer to the Record Retention List for suggested lengths of time to keep your important documents.  Labeling files with a “destroy” date will help ensure that your records will remain organized and current.

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“Success is doing ordinary things extraordinarily well.” 

— Jim Rohn, Motivational Speaker

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