Suze, 1Zumba Money SuperStar!

Few times, people think that the picture is directly related to the subject. It’s an easy mistake. This assumption can be wrong. 😀

Thank you friends from the US, Poland, Bosnia & Herzegovina, to ask us to clarify that photo thing. By the way, every time, I say or I hear the word “thing” in a certain intonation way, I instantly recall the old song “You Have that Thing”. 😉

This song, let me tell you, brings me some kind of joy. It was used in “Midnight in Paris” movie, and it has certain effect on me. soI wonder if does this to others or not 😕

My dear 1Zumba  friend, I must say that I’ve been a fan of this lady for long time. She is vibrant, endlessly active, and generous with her time helping people in their financial dilemmas.

She is Suze Ormand! Yes, the lady from Chicago, who used to work as waitress, until she found herself, after joining Merril Lynch. She is eloquent speaker, and you would just like to listen to her advice, when she talks about money.

When I paid a visit to Orman’s website, I found it very interesting, well-organized, n full of worthy info. Image result for suze ormanFor me, the most attractive tap  was “keeping the documents”. Why did it grab my attention? Coz many times, I have so many documents, and I continue to keep them for long time, which would turn them into storage materials in boxes.

Then at one point, I’m not sure which one I should get rid of first, or which one I should keep for longer periods of time.

Therefore, I decided to present this part for you here, because it is a high possibility, that you found yourself in my shoes. Here’s the categorization it had:

-Keep till warranty expires or can no longer return or exchange

  1. Sales Receipts (Unless needed for tax purposes and then keep for 3 years)
     

-What to keep for 1 monthImage result for suze orman

  1. ATM Printouts (When you balance your checkbook each month throw out the ATM receipts) 

-What to keep for 1 year

  1. Paycheck Stubs (You can get rid of once you have compared to your W2 & annual social security statement)
  2. Utility Bills (You can throw out after one year, unless you’re using these as a deduction like a home office –then you need to keep them for 3 years after you’ve filed that tax return)
  3. Cancelled Checks (Unless needed for tax purposes and then you need to keep for 3 years)
  4. Credit Card Receipts Image result for suze orman(Unless needed for tax purposes and then you need to keep for 3 years)
  5. Bank Statements (Unless needed for tax purposes and then you need to keep for 3 years)
  6. Quarterly Investment Statements (Hold on to until you get your annual statement)

-What to keep for 3 years

  1. Income Tax Returns (Please keep in mind that you can be audited by the IRS for no reason up to three years after you filed a tax return. If you omit 25% of your gross income that goes up to 6 years and if you don’t file a tax return at all, there is no statute of limitations.)
  2. Medical Bills and CancelledImage result for house selling records Insurance Policies
  3. Records of Selling a House (Documentation for Capital Gains Tax)
  4. Records of Selling a Stock (Documentation for Capital Gains Tax)
  5. Receipts, Cancelled Checks and other Documents that Support Income or a Deduction on your Tax Return (Keep 3 years from the date the return was filed or 2 years from the date the tax was paid — which ever is later)
  6. Annual Investment Statement (Hold onto 3 years after you sell your investment.)

-What to keep for 7 years

  1. Records of Satisfied LoansImage result for stock certificate

-What to hold while active

  1. Contracts
  2. Insurance Documents
  3. Stock Certificates
  4. Property Records
  5. Stock Records
  6. Records of Pensions and Retirement Plans
  7. Property Tax Records Disputed Bills (Keep the bill until the dispute is resolved)
  8. Home Improvement Records (Hold for at least 3 years after the due date for the tax return that includes Image result for Willthe income or loss on the asset when it’s sold)

-Keep Forever

  1. Marriage Licenses
  2. Birth Certificates
  3. Wills
  4. Adoption Papers
  5. Death Certificates
  6. Records of Paid Mortgages

As you read, you would Image result for suze ormanrealize that it is organized according to the length of the time one should keep it for, which is pretty awesome.

The last section is the most critical one, so pay close attention to those documents, that you’re going to need all your life. Suze’s money advice is a solid one, I assure you, she’s 1Zumba Money SuperStar. 😉

Now, tell me that we deserve a break, hhaha!  My hugs & kisses, people,  for all of you ❤

References:

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