Help! I’m drowning in paper! Do I really need to keep that?

You want me to do what with all that paper? I’m supposed to do what? File? Organize? You must be kidding. There are mountains of it and just the thought gives me hives.

And, even if I did decide to waste away a lovely Saturday afternoon on such a soul-sucking chore, what in the world do I keep anyway? What do I toss? Everything seems important. Certainly some expert somewhere has said keep it. What if I get audited?

Oh but wait, many of those piles are things I wish to read someday. You know, magazines I haven’t read or articles on projects I want to do. I wouldn’t want to get rid of any of that until I’ve gone through it and gleaned all that I want from them.

Does this sound familiar? When you think of paper, do you react much like this?

It does seem there is more paper than ever before. Even in this age of digital, there are endless reams of paper flowing into our homes and offices.

The question most often asked is, “What do I really need to keep?” A good question to ask and my simple answer is similar to the guidance given in a Kiplinger article.

“You can deep-six most of your documents and go digital with the rest.”

Kiplinger – Paper Records: What to Toss, What to Keep

Here is an idea to consider, a most freeing one. You can pretty much toss or shred everything! Yes, everything.

Does that scare the bejeebers out of you? It certainly did me, at first. That is, until I realized the freedom in that solution.

I’ll bet your mind, like mine, raced with all sorts of … “Yeah, but what about ….” chatter. Off and running it goes, squawking away like a blue jay hoarding over the seed bowl. “Don’t you dare touch that!” “Mine, mine, mine!” “Are you crazy? Of course you must keep that!” It is doing its best to convince you of all the things you MUST keep.

And then I sat quietly with that approach and realized the wisdom and truth of it. It is freedom at its most high.

What if I got rid of everything? What if I never had to file a thing ever again? What if?

I wasn’t convinced quite yet. Further research was required. I needed to have comfort with what I was truly and sanely required to keep! What I found out is that very little of all that paper am I required to keep.

One of the most helpful statements that stood out for me was this ….

“The most important documents to hang on to are your annual tax returns.” (Kiplinger)

So, let me share the gist of my research, keeping in mind the basic tenet that you can deep-six most.

Here’s a quick and dirty list, condensed in a nutshell.

Annual returns – You should keep the actual returns forever, but you can get rid of the supporting documents after three years
Year-end investment statements – shred the rest
Stocks and mutual funds – initial paperwork showing purchase price
House records — save records pertaining to your house as long as you live in it. After you sell, keep for three years
IRA’s and 401(k)’s — hold on to records showing how much money went into and came out of them, especially if you’ve made any nondeductible contributions — so you don’t overpay taxes
Permanent financial paperwork — Essential records such as birth and death certificates, marriage licenses, divorce decrees, Social Security cards, and military discharge papers should be kept in a safe-deposit box
Defined-benefit plan, estate planning documents, and life insurance policies (not the statements)

That’s it folks! Nothing else is required of you. Isn’t that freeing?

All other paper can be tossed or shredded. You can purge it all, unless you have other work or business related requirements.

Oh, and by the way, you can even deep-six those owner’s manuals and guides, only keep warranty paperwork until it expires (which is usually 30 to 60 days!).

If you are hanging onto anything else, well then, it is for another reason. Most likely emotional.

I encourage you to see the wisdom in releasing that which you no longer have to keep. Free yourself from the burden of piles and filing. Simplify your life and embrace the joy and ease of a life and an environment that is paper-free.

Clear the way, and the view, so you can see what you really want and need in life. All that paper and kept stuff holds negative energy, keeps you captive, and drags you down.

AND, along with it, your money follows that same downward path. I’m sure that’s not what you had in mind!

Still feeling overwhelmed by the idea of deep-sixing all that paper and filing? Maybe you need more encouragement, assistance on what to focus upon first, or simply a friendly hand to hold?

Then, let’s talk. As I shared, I love to tidy up and avenge clutter. I’ve done it, so can you. One tiny step at a time.

Email me Joan@tidyupyourlife.com or call me @ (925) 989-8215