Let me ask you: if you are not able, who will care for your family and how? Read more here http://www.mycitymag.com/protect-your-family/
Spring Cleaning – Doesn’t only apply to housework
Read more about this chart here: http://www.mycitymag.com/spring-cleaning-doesnt-only-apply-to-housework/
Documentation | Duration | |
Vehicle Titles | Until sold or discarded | |
Loan Documentation | Until paid in full | |
Mortgage Statements | Until property sold | |
Credit Card Records | Until paid in full unless needed for taxes | |
Social Security Statements | One year | |
Monthly Investment Statements | One year | |
Reconciled Bank Statements | One | |
State and Federal Income Tax Returns | Seven years along with supporting documentation including W-2 and 1099 forms, charitable contribution and tax deduction receipts, real estate records | |
Annual Investment Statements | Seven years | |
Birth Certificates | Forever | |
Social Security Cards | Forever | |
Passports | Forever | |
Marriage/Divorce Papers | Forever | |
Wills and/or Trust Documents | Forever | |
Insurance Policies (annually update household inventory) |
Forever | |
Pension and Retirement Plan Records | Forever | |
Medical Records | Forever | |
Education Records | Forever |
IRA Funding Season
There are many different rules regarding IRA and Roth IRA contributions. See the chart and explanations here: http://www.mycitymag.com/ira-funding-season/
New Year’s Realization
Tiny Goals Equal Big Results. Read more here: http://www.mycitymag.com/new-years-realization-tiny-goals-equal-big-results/
Read all of Joel’s articles here!
Want more My City Magazine articles from Joel?
Find them here: http://www.mycitymag.com/category/my-city-columns/my-finances/