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How Long Should I Keep Financial Paperwork?

Question: How long should I keep financial paperwork, like bank statements, tax returns or even medical documents?

– Susie May, Fremont, Neb.

Answer: The urge to purge can be powerful, but don’t rush to fire up the shredder. Experts recommend holding on to bank statements for at least three years, and tax returns—plus related paperwork—for at least seven. (The IRS can audit you up to three years postfiling and has six years if it thinks you failed to report more than 25 percent of your gross income.) As for medical records, those related to chronic conditions and major medical procedures should be kept indefinitely, says the National Foundation for Credit Counseling’s Gail Cunningham, who recommends scanning and storing documents electronically to cut clutter.

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    • Peggy, that’s not the case. What two people do on their own time has an efecft on the outside world. That’s been the understanding for all religions for all time. The fact that gay marriage is even an issue proves that what happens in private has an affect on the public.Legality has little to do with morality. Gay acts used to be illegal in the US. Now they are legal. Bestiality, ephebophilia, and incest are currently illegal, but the same logic that was used to justify the legalization of gay acts could be used to legalize these. So long as the foundations of law are public opinion, and public opinion can be manipulated, anything is possible including recriminalization.I’m not at all surprised by the results. The logic is outlined in Humanae Vitae and Chapter 7 (The Eternal Revolution) of Orthodoxy by Gilbert K. Chesterton. Once the foundation of law is no longer God, and private actions are declared to be irrelevant to the public, all you’re left with is progress , or rather (d)evolution towards animalism.

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