Paperwork ... when less is more.

I've been falling into a web of paperwork for many years. Based on some of the paperwork that has been surfacing recently it would seem that I started to lose control sometime in the mid 90s. Which would indicate that it started with my first job. Sometimes the physical evidence points to what should otherwise be an obvious conclusion. Your first job is when you start paying for all your monthly expenses and sign up for extra credit cards. Plus you are getting a paycheck on a regular basis.

With my first job I also felt a sudden need to grow up. I was an adult and to me that meant responsibility, including the dutiful handling of paperwork. I wasn't really taught anything specific about handling paperwork, but I did observe my parents handling the issue by storing everything. Perhaps they tossed papers on occasion but I only saw the storing part.

Aside from the mess that is periodically created when the mass of paper breaks free, I have several concerns about how to handle it. In the face of uncertainty, the status quo wins and consequently I've spent more than ten years accumulating a variety of different paperwork. This includes bills, receipts and supporting paperwork for things like the house, car, taxes and other possessions.

I'm concerned about throwing away paperwork that I might need someday. Not one really tells you what paperwork should be kept or for how long. Plus, I've heard so many stories about identity theft that I'm concerned about people rooting through my trash.

To resolve the first concern I started a google search, asking how long I need to keep different paperwork, the only consistent answer seems to be that tax relevant paperwork needs to be kept for 7 years. No more, no less since extra information can sometimes be subpoenaed by the IRS and cause more problems. Opinions on other kinds of paperwork ranged from just long enough to ensure that your payment was received, to three years for anything.

I’ve made the personal judgment that I will keep taxes for 7 years, insurance information for as long as the policy is active and anything else for just long enough to confirm the information on the paperwork is correct.

To resolve the second concern I now crosscut shred any document that might have even a marginal value to nefarious folks. This takes extra time and is somewhat of a pain, but the extra comfort is worth it.

After years of learning how to store things and organize my life it is nice to get rid of things and simplify my life. It’s a strange joy to let go possessions and I’m already starting to extend this idea to other areas of my life. Ten years of gathering paperwork and other material possessions doesn’t clear up in a weekend, but I’m on a better path now.