3257: How Long Should You Keep Your Financial Statements? by Jeff Rose of Good Financial Cents

Optimal Finance Daily - Financial Independence and Money Advice

Optimal Living Daily LLC

Investing, Business, Education, Self-improvement

4.4 • 1.3K Ratings

🗓️ 23 August 2025

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

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Summary

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 3257: Jeff Rose offers a practical guide to organizing and storing key financial records, from brokerage and retirement statements to tax returns, bank statements, and insurance policies. He explains how long to keep each type of document, when it’s safe to shred them, and how to protect against identity theft. His advice balances the convenience of digital storage with the security precautions needed to safeguard your most sensitive information. Read along with the original article(s) here: https://www.goodfinancialcents.com/how-long-should-you-keep-bank-financial-tax-statements/ Quotes to ponder: "Keeping a good filing system of all your statements will help you do a better job of investment tracking." "It’s advisable to keep your tax returns ‘forever.’" "Proper shredding is an easy way to protect yourself from identity theft." Episode references: IRS Recordkeeping Guidelines: https://www.irs.gov/businesses/small-businesses-self-employed/how-long-should-i-keep-records Business Insider - Google Drive Security: https://www.businessinsider.com/guides/tech/is-google-drive-secure Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:54.7	How long should you keep your financial statements?
0:57.7	By Jeff Rose of Good Financial Sense.com.
1:01.9	Every new client that decides to work with me, I always have to give them the warning of the amount
1:07.0	of introductory paperwork they'll receive.
1:10.1	From prospectus to statements, many are initially overwhelmed on the amount of introductory paperwork they'll receive. From prospectus to statements, many are
1:12.9	initially overwhelmed on the amount that they receive. In addition to that, I wanted to also share
1:18.8	how long you should keep some of the other important documents you receive, such as tax returns,
	...

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