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Shred Old Financial Documents


Shred Old Financial Documents

As many of us are relegated to staying at home, it is proactive and responsible (but not an exciting task) to look through the papers we collect throughout the year.

Why should you do this? Old financial documents contain a lot of juicy personal information an identity thief would love to find. These papers are also annoying to keep organized, so chances are they're in a box labeled by the year in the hopes that you won't ever need any of them. 

Fortunately, there are a lot of documents you simply don't need anymore. There are those that, in sporadic cases, you might need in the future. If throwing out financial records makes you nervous, we have a way to declutter AND not have you break out in hives at the thought. 

How do I do this? All the guides on shredding documents are unnecessarily complicated; my rules are straightforward. Digitally scan everything, 1s and 0s are easy to store, and it's convenient just in case… but you don't need the paper.

If it came from a government entity (federal, state, county, etc.), keep it for seven years. The same goes for anything that supports a document filed with a government entity, like receipts for things in a tax return. Shred anything older (remember, you still have digital copies).

If you can retrieve a digital copy of a document right now (like a credit card statement), you can shred the paper one.

That should cover 90% of the paper you have. After this pandemic passes, bring your old paperwork into Regal, and we will kindly shred it for you free of charge. It is also an excellent time to schedule a review of your accounts.

Stay safe! We are here to help our clients and affiliates.

John A. Kailunas II
Founder & CEO
Regal Holdings, LLC