What You Can Shred After One Year:
Bank Transaction Receipts Receipts
Credit Card Receipts for Large Purchases
Social Security Statements
What You Can Shred After Three Years:
Receipts for Major Purchases
Expired Insurance Policies
What You Can Shred After 7 Years:
Real Estate or Vehicle Sale Records
Loan Payoff Documents
Tax-Related Bills or Receipts
What You Should Keep Indefinitely:
Current Insurance Benefit Documents
Health Records for Major or Ongoing Procedures
Annual Statements for Investment Accounts
IRA Contribution Records
Current Loan Documents
Warranty Information for Large Purchases like Cars, Appliances, etc.
Items such as birth certificates, Social Security cards, certifications, citizenship papers, military discharge papers, marriage licenses, wills, and death certificates should not only be held onto permanently but stored in a secure place so that the information is never compromised.
Some items can also be shredded on a much more regular schedule, such as paid bills, junk mail, credit card offers, and receipts. As we mentioned for businesses, there is no rule saying you can’t keep documents for as long as you’d like. If you’d like to keep your records but clean up the amount of physical papers in your home, PROSHRED® San Diego offers document scanning services so you can quickly convert all of your files to digital.