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Some people, yes. Others, no. As your finances get more complex, and you change employers more often, and you have more 401k plans that are distributed around
by bradknowles 4y ago
Some people, yes. Others, no.
As your finances get more complex, and you change employers more often, and you have more 401k plans that are distributed around various companies, and you have multiple credit cards, etc... then your storage requirements will necessarily increase.
- ghaff 4y agoEssentially all such records are available online. In any case, a file cabinet is almost certainly sufficient if you want to save a few years of printed copies.
- bradknowles 4y agoYou still need to provide your own copies of that information, which can be verified against other sources. If you can't provide that information, then you're likely to not do well during the audit. So, you do want to make sure you've got your own copies of those files, whether hard copy or scanned. But for 99.99% of US citizens, a single file cabinet is likely to be more than enough.