By Joanne Byrne
Retired and Rejuvenated
Joanne Byrne.
With all the technological advancements of the past two decades – emails, texts, online bank statements, electronic billing, electronic receipts – it seems logical that we would be dealing with fewer papers coming into our homes. We can even get our newspapers and magazines online. Nevertheless, some of us are still dealing with a ton of paperwork and finding it universally difficult to manage.
The constant influx is overwhelming for me and I suspect for many others as well. It takes time to sort through papers, to decide whether to keep something or discard it, and to properly put important documents away so we can easily find them later.
Recently, I read some practical ideas to help with the constant barrage of papers in our lives. None are terribly new and may be things you are already doing. But here goes.
The key to paper management is to keep it simple and be consistent. Every home needs at least two file drawers, perhaps even fewer as we grow older. Some supplies you will need are hanging folders and interior file folders. They come in bright colors now, so at least it makes it more fun to organize. A sharpie for labeling also helps.
Shredding financial documents and anything that contains personal information is a good idea, even though our identities are more likely to be stolen online than from documents put in the trash.
A cardboard or plastic box can come in handy for long-term files you don’t have to access regularly. Keep categories as general as possible when setting up your files. If you get too specific, it can make things more difficult to find. Categories might include credit cards, bank statements, medical bills, receipts for charitable contributions and donations, and appliance manuals. Of course, there is no one way to organize your files. Do what makes sense to you.
Mail should be opened every day; this saves time later. Set aside magazines and catalogs that you want to look at later, but be careful they don’t pile up for too long. Discard junk mail. Place bills in a “To Be Paid” basket. Ideally, everyone should be paying as many bills online as possible, either through automatic debit or through a bank’s online portal. It is a great time saver and you have automatic records of your payment. Copies of paid bills can be filed for a limited time but purged on a regular basis.
Many of us procrastinate about paperwork because we are unsure whether to keep something or discard it. Tax returns are generally kept for seven years. Copies of things like your will, health-care power of attorney and living will, financial power of attorney and information on how to access all of your accounts should be kept together in a safe place and clearly labeled so family members can easily find them in the event of a tragedy.
Bank and credit card statements can be kept for short amounts of time and purged regularly since this information can always be accessed online. Receipts for charitable donations can be filed with your current year’s tax documents.
While it is challenging to manage the paper flow that comes into our homes, establishing specific places for things and sorting through paper each week will prevent you from having a much larger paper-sorting task over time.
I am working on streamlining my paperwork. I hope you are doing the same.
Joanne Byrne served as Senior Services Coordinator for the Town of Orange. She is now actively and happily retired. Email her at joannebyrne41@gmail.com to share your thoughts on retirement.