Record Keeping Suggestions

iVillage Member
Registered: 07-24-2001
Record Keeping Suggestions
14
Fri, 12-09-2011 - 7:06pm

I'm still a newbie, and I have another question for you wise ones . . .

What do you do for record keeping?

I need a good and easy system.

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iVillage Member
Registered: 08-24-2007
Wed, 12-14-2011 - 2:42pm
Hi Serenity,
All pension plans have a duty udner the law to maintain records about the pension plan and the individuals entitled to benefits from the plan. Regardless, you should still be keeping certain documents like your benefit statements and the most recent summary plan description (the plan's rules). In addiition to your work retirement, you should also keep any documents that pertain to an asset you own outside of your retirement fund (confirmations showing the purchase price) and these should be kept for as long as you own the asset, plus seven years. You should also be keeping your W-2 forms until you start drawing Social Security.

Newsletters and general mail-outs can usually be trashed.

Kate


empty purse

iVillage Member
Registered: 08-24-2007
Wed, 12-14-2011 - 2:45pm
Wow, my dental costs? Really?? Holy moly Marie, that might amount to quite a bit of money!

All kidding aside, I've helped people in the past and learned from experience to only help with coaching or advice on setting up a system. I no longer help people physically clean or set up the files. If people are handed a clean slate, if they aren't invested in the solution, they don't upkeep any future systems. It's usually these clients who are my repeat offenders!

Kate


empty purse

iVillage Member
Registered: 08-24-2007
Wed, 12-14-2011 - 2:51pm
I've thought of it a few times (I even looked into being a professional organizer at one point). I honestly think that in a home situation, the solution is so easy that I likely wouldn't have to spend too much time on it. When I help friends, it usually only takes about 1 hour (of course, I only get them focussed and informed -- the rest is up to them). DD and I have spoken a few times about possibly doing a small business that would involve the psychological component to disorganization. I woud help them set up systems and DD (who has a degree in psychology) would tackle procrastination and/or the emotional aspect of recordkeeping. DD would need to take some additional classes to be certified, but we've played around with this idea. Not sure how well it would fly though....

Your Grandmother sounds great and I can only imagine how interesting the cards, letter and ration books were! Certainly, if we are talking about personal history, some things are important to keep. I once dated someone who is now a director in Hollywood and I still have his high-school love letters. Who knows, one day he might be the next Stephen Speilberg and my grandkids will find these letters interesting!

Kate


empty purse

iVillage Member
Registered: 05-08-2006
Wed, 12-14-2011 - 10:49pm
I thInk with your great sense of humor, you could get a tv show and be the Gail Vox Aucksley(probably spelled wrong?) of financial organization. Tune in on Saturday st 8 when Kate takes on a woman with tax returns older than her son - who got married last week.. You never know, everyone starts somewhere.. SJ

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