Moving/Getting Rid of Papers...

[SVT]

How many years worth of paystubs do I need to keep? I've never had to really go back to them ever. I was thinking of throwing all the paystubs away up to the end of 2008. Is that OK?

[SVT]

Also want to ask about 401k statements. I have statements going back to 2004 when I started it. I don't see any reason why I need to keep statements back to 2004...

[thyme4change]

I bet if you didn't keep any paystubs for any years that you have received a W2 for, you would be fine. I usually keep my year end paystub, just to prove it matches the W2, and I stick it in the tax folder.

I also just keep year end statements for all my investing - although that has been problematic when I sell stock. You could buy one of those quick scanner and scan some things in.

[The Walk of the Penguin Mich]

When I moved in 2000, I shredded everything but the current year's bank statements and the previous 5 years of tax forms. I sat through 3 movies and took out 5 trash bags of shredded papers.

I need to do it again, the paper is taking over my home!

[Gardening Grandma]

I never kept paystubs after receiving W2's. I do save the year end reports on our investments, but now they have them in pdf format, so I burn them to a CD. I do tend to keep tax returns, however.

[MN-Investor]

Virtually everyone is going to downloadable pdf files, it seems.

My DH's "paycheck" has been a pdf file for years. I just download it. Older paycheck details I've scanned in with my document scanner (I love it!) and I've shredded the originals.

For the most part I download 401(k) statements, mutual fund statements, IRA statements, etc. Older statements I've scanned in and shredded.

I may not need old statements, but my scanner saves to text searchable pdf files and they take up no room, so I'll do it.

[Deleted]

I never keep copies of old pay stubs- now in pdf form- except year-end. The only time I;ve ever been asked for one is in a mortgage application and then they want recent ones.

[wvugurl26]

I've heard paystubs can go after you match the year end one to the W2. I went on a major paper purge before I moved from my last apartment in May. I need to do it again. I have a copy somewhere of Liz's article on what to keep. I doubt Bundle has any such helpful advice

[Deleted]

SVT-Do you have both Pay Stubs and year end? Double check the year end with your SS annual statement. If they match, everything but 2010 and 2011.

As long as the accruals on the paystubs are correct, I only maintain a year at a time, always keeping the last 2 (in case we have to apply for a mortgage).

If you're a W2 employee you really only need your last two tax returns. If you get other income e.g. 1099, rent et cetera keep the returns for 4 years.

Make sure you keep the closing cost sheet for your house and any related improvements et cetera. If you wind up converting the house into a rental (vs selling it) you will need it to determine your cost basis.

Ditto for stock purchases outside your 401k.

[dragonfly7]

In most cases, I don't think you would need to keep them. However, when my last workplace closed, I was actually quite happy I kept the prior two year's paystubs because I could not have made an accurate unemployment insurance claim without them since I was promoted from part-time to full-time during the needed quarters. My guesstimate's were much lower than what I was actually paid.

[SVT]

Jan 13, 2011 1:40:38 GMT -5 @bonnap said:

SVT-Do you have both Pay Stubs and year end? Double check the year end with your SS annual statement. If they match, everything but 2010 and 2011.

As long as the accruals on the paystubs are correct, I only maintain a year at a time, always keeping the last 2 (in case we have to apply for a mortgage).

If you're a W2 employee you really only need your last two tax returns. If you get other income e.g. 1099, rent et cetera keep the returns for 4 years.

Make sure you keep the closing cost sheet for your house and any related improvements et cetera. If you wind up converting the house into a rental (vs selling it) you will need it to determine your cost basis.

Ditto for stock purchases outside your 401k.

Yes, I have paystubs and year end. I actually put everything in the "to shred" pile through 2009. But I guess I'll just go ahead and get rid of 2010's as well after verifying that the year end and W2 match as well as the SS statement. I'll have to find the last (first) SS statement I received. I guess it would have been for 2009 and earlier though.

I have all tax return information saved. It's not that much since I'm 25 so I figure, for now, that I'd keep them all.

Thanks for the other tips!

[Urban Chicago]

I keep my tax returns, W2s, insurance policies, 1099s, and mortgage/title stuff. I am a big clutter phobe, so I hate keeping anything else.