Documents Storage

Even in a paperless world, you need to store your paper.

It’s the digital age, yet there are some documents you still need to have on paper. Some accountants recommend people save income taxes and related records, dating back at least seven years. You do not need every receipt, but you should have your W2’s, stock sale records, and bank statements.

Keep IRA contributions, annual retirement savings plan, cancelled checks, credit card, and mortgage statements. Furthermore, you have passports, marriage licenses, birth certificates and other legal documents. Invest in a fireproof lockbox for irreplaceable documents.

Here’s what to look for in a document storage facility:

Pickup & delivery: consider procuring a storage service that will pick up your files and provide you with an inventory list. If they charge by item, rather than by unit of space, you have the advantage of paying only for the space you use.

Protection: the storage facility should be secure for both your files and yourself, if you need to access them on the premises. The facility should be well lit, have safeguards against fire and water damage, and maintain a helpful staff. It should have a billing system that allows you to pay online or by credit card. Entrance doors should be pass protected, and there should be security guards on-site at all times.

A few more precautions you can take:

Make multiple backups of all stored documents and keep them in a separate location.

Store all documentation on password protected CDs or DVDs.

Fill boxes, even with just packing material; loosely packed materials can shift during transport and handling.

Packed boxes should weigh no more than 30 50 lbs. for safe lifting.

Raise boxes off the ground with pallets, wood, plastic or cardboard.

Use archival quality boxes if the files are valuable.

Stack boxes containing older files farthest back, at the bottom of the pile.