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Setting Your Financial Records Straight

Setting Your Financial Records Straight. Do These Scenarios Sound Familiar?. Unorganized or incomplete financial records? Save every piece of paper? Throw out every receipt? It’s time to TAKE CONTROL. How Do You Get Started?. Start a filing system Keep current files close

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Setting Your Financial Records Straight

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  1. Setting Your Financial Records Straight

  2. Do These Scenarios Sound Familiar? Unorganized or incomplete financial records? Save every piece of paper? Throw out every receipt? It’s time to TAKE CONTROL

  3. How Do You Get Started? Start a filing system Keep current files close Store away “dead” files Rent a safe deposit box Employ an electronic filing system

  4. Sorting Your Financial Records Taxes Bank Statements Investment accounts Retirement accounts Insurance policies Health care receipts Home-related paperwork

  5. Taxes Start a file for this year’s tax return Income records W-2 and 1099 forms Back-up documentation for deductions Receipts Cancelled checks

  6. Bank Statements Savings account statements Checking account statements Cancelled checks

  7. Investment Accounts Save all paperwork • Purchase of the investment • Its sale • Any other activity Saving investment records is a tax-saving necessity

  8. Retirement Accounts IRA, 401-K, and any other employer sponsored plan • Enrollment papers • Statements • Beneficiary designations • Contact information

  9. Insurance Policies Create a file for each policy held • Policy numbers • Issuing company name • Agent name • Those covered on policy • Beneficiaries

  10. Health Care Receipts and Paperwork Receipts from health payments made personally, with a Health Savings Account (HSA) or Flexible Savings Account (FSA) Insurance company explanations of benefits (EOB)

  11. Home-Related Paperwork Purchase Sales agreements Closing documents Replacement costs Inventory of belongings Home improvement

  12. Records to Store in a Safe Deposit Box Divorce papers Deed to your house Titles for your cars Will: signed original Birth and marriage certificates Adoption papers Citizenship documentation

  13. Personal Financial Overview Compile a list of your assets Record of your debts Catalog of important documents Contact information to any financial advisors, attorneys, CPAs, etc.

  14. How Do I Stay On Top of It All? Weekly Yearly overhaul Clutter is the enemy

  15. Thank you!

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