Tuesday, November 13, 2007

Why on Earth Do I Keep This?


The Sunnyvale Chamber of Commerce just moved to a new and larger headquarters on 260 South Sunnyvale Avenue. They had been at the old location on West Olive since 1946, and Suzi Blackman, their CEO, wrote an interesting article on decluttering prior to a move. Many of my clients find that moving to a new home (especially a smaller one) is the ideal time to clear out years of accumulated "stuff."
We don't really need to move in order to clear all those excess papers and collections from our homes and offices. The end of the year is the perfect time.
Some of Suzi's hints:
Be brutal. When it comes to paperwork, if you haven't used it in the past year, toss it. Most of the material is obsolete anyway. This includes magazines and articles that you "always meant to read."
I checked Bankrate.com, and this is their timeline for keeping paperwork:
Taxes:7 years.( The IRS has 3 years to audit, but 6 years to challenge possible under reported income).
IRA contributions: Permanently. Brokerage Certificates: Until you sell.
Retirement Plan Statements: Annual Summaries, permanently.
Records of Home Improvements, Records regarding Real Estate: Permanently
Many items no longer useful to you are someone else's treasure. Recycle or donate.
If you need help, I've found that Tom Anderson, AKA Clutterboy is a wonderful resource.

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