How long should you keep financial records? The list below can help you determine how long to keep documentation. Be sure to properly destroy any documentation with personally identifiable information on it. Documentation should be shredded or burned to avoid identity theft issues.
| Document | Expiration Date |
| Life and estate planning documents | Keep the most current copy |
| Utility bills | Properly dispose of statements more than 1 year old unless you operate a business and need the bills for tax purposes |
| Supermarket receipts | Destroy immediately unless you need them for tax purposes |
| Cancelled checks | Destroy after one year unless you need them for tax or insurance purposes |
| Store receipts | Destroy after one year unless you need them for tax or insurance purposes; note that you should keep receipts for products that are still under warranty |
| Bank statements | Destroy after three years |
| Credit card statements | Destroy after three years |
| Insurance records | Keep as long as the policy lasts, and longer if you have tail coverage and are covered for a certain period after the policy expires |
Tax records including forms and statements that show income or verify deductions as well as copies of your return | Can be destroyed after 7 years |
Homeowner records including the deed and title to your house, closing statement and any home improvement receipts | No expiration - keep indefinitely |
Investment records such as stock purchase agreements and retirement and brokerage | No expiration - keep indefinitely |
Important life documents such as birth certificates, marriage certificates, diplomas, auto titles, divorce decrees and military records | No expiration - keep indefinitely |