The article emphasizes the importance of spring cleaning for your financial documents, recommending the use of a shredder to protect personal information from identity theft. It provides guidelines on what documents to keep, such as tax returns for six years and bank statements for one year, while advising shredding of others like credit card bills after 45 days. It highlights the need to maintain records related to significant purchases and home improvements for asset documentation and potential Medicaid applications.
Happy spring, or as I like to call it, shredder weather! This is my annual reminder to comb through your physical and electronic financial files and tidy up.
If you have not yet invested in a shredder, let's get that on the to do list. Scammers and fraudsters love when you throw out important documents, with personal confidential information.
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