Being a Records Pack Rat Pays Off

By Steve Dinnen

My wife has, from time to time (i.e., repeatedly), reminded me that our basement could be put to better use than as a storage shed for our old mail. As I’m coming to terms with the fact that I no longer need 1997 bank statements, (partially) exculpatory evidence has arrived by way of a lawsuit to which I am a party.

A stock I owned eons ago performed in such a manner as to prompt a lawsuit from disgruntled shareholders. They’re now nearing settlement and sent me a proof of claim form for my share of the booty. But they want to know when I bought that stock. Sale date? How much? That needed information was readily found in the basement, in year-end statements mailed from my former broker in Chicago.

Nowadays even I have gone electronic with most of this stuff. And my new broker has all my trades in e-files. My accountant has taxes, as well. This is no mammoth task, but necessary to ensure that somebody, somewhere, has your important business and finance records.

Once the settlement check arrives, I plan to spend it on a very nice meal during which I will tell my wife how I will very soon clear out all that mail clutter—to make room for a pool table.

You May Also Like

Navigating Today’s Tumultuous Travel Scene

By Steve Dinnen Record flight cancellations. Piled atop record high airfares. Piled atop massive ...

Waterfront Living in Iowa? The Prices Could Sink Y …

BY STEVE DINNENIf it’s winter, and you want a vacation, you head to warm ...

Keep an eye on variable loan monthly statements

By Steve Dinnen I see little purpose to negative amortization loans, which distresses me all ...