Free Public Shred Day: A Quick Save vs. Shred Guide

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posted by Ted Ryan on June 05, 2014

Seniors Home Care SHC St. Louis Health Care Elderly Shred Day Saturday, June 21, SHC is hosting a free community shred day (3 box limit) from 9:00 a.m. to 12:00 p.m. in the Avery School parking lot located on Marshall Avenue, just three doors up from our office (at 504 Marshall Avenue).

This is a great opportunity for anyone trying to manage accumulated documents for themselves or a senior loved one. By using a certified shredding company, you can get rid of obsolete personal documents without the risk of identity theft.

However, it can be difficult to know what to toss and what to save. We put together a brief overview to help make the call.
Document How Long To Save
Bank deposit slips & credit card/ATM Receipts Until reconciling monthly statements
Bank statements One year, unless needed to support tax filings (such as deductions), in which case the statement should be kept with tax returns
Investment statement Monthly and quarterly statements can be shredded as new ones arrive. Save annual statements until the investment is sold.
Credit card bills Until they are paid, unless supporting tax filings
Insurance policies that are renewed yearly (e.g. home, apartment, car) Until getting new policies
Pay stubs Until reconciling with your W-2
Large purchase receipts Keep for the duration of the warranty or you no longer own the item
Investment certificates (purchase confirmations & 1099s) Until you sell them, at which time you should put them with the year’s tax-return file
Loan documents Until the loan is paid off
Savings bonds Until cashed
Tax records After seven years
Benefit plan documents Never
Estate-planning documents (e.g. wills, trusts & power of attorney) Never
Life insurance policies Never, or when a term policy is over
Birth & death certificates Never
Marriage licenses & divorce decrees Never
Military discharge papers Never
Social security cards Never

This is a general overview. For details, speak with a professional. If you need a referral, please contact SHC and we will be happy to put you in touch with someone who can help.


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