Paper Checking and Paper Brokerage Monthly Statements vs going paperless

O

oldmontana

Senior Member
Location
Montana
We have three Brokerage accounts and a checking accounts. Tons of paper that I shred after three years.

I am thinking of going paperless. Any reasons why I should not?

Thanks
 

I would say there is no reason not to go paperless. If, for some reason, you need to have a paper copy of a statement, you can always get them from the company. Also, you can go into your checking account online to get any info you need. The fact that the companies make available all your statements electronically online negates the necessity of needing paper copies. Just extra things to file or shred like you said.
 
oldmontana said:
We have three Brokerage accounts and a checking accounts. Tons of paper that I shred after three years.

I am thinking of going paperless. Any reasons why I should not?

Thanks
Click to expand...
Yes go paperless. Save the account information to a flash drive which you can view and print out any time you feel like it.
 

As long as you both have access to the information sent and know when to expect the statements for review shouldn't be any problems. Camper6 made a great suggestion. That way you can delete the information instead of storing it in a file.
 
oldmontana said:
We have three Brokerage accounts and a checking accounts. Tons of paper that I shred after three years. I am thinking of going paperless. Any reasons why I should not? Thanks
Click to expand...
I used to like getting paper confirmations but then TDAmeritrade started charging for confirmations and statements. So, now I actually prefer getting electronic confirmations. Once a year I print out all my trades for the year and all the info is right there on one page. As to the statements, I get a paper documents for my tax return yearly and all the info is right there, sales and buys and dividends and whatever else.

My bank charges for paper statements so I just find all my info online. My only complaint is that stocks and bank info is only available for 2 years.
 
We went paperless quite a few years ago. Anything important or for tax purposes I put in an encrypted file.
 
Thanks for all your reply's. I will go paperless.

I will keep my tax returns without all the Brokerage statements, etc for ever. I will keep for three years receipts for donations and all my medical receipts.
 
I'm almost paperless but I still print hard copies of all financial statements and maintain a rolling seven-year file.

The Medicaid lookback, currently five years, is a task that I had to complete for my mother years ago and the need for that detailed paper documentation has stuck with me. As it turned out my mother died a couple of months before her assets were depleted but by that time we had already completed the application. My hope is that I will never need it but I want to be prepared to make life as easy as possible for all involved.
 
Aunt Bea said:
The Medicaid lookback, currently five years,
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Aunt Bea, what is the Medicaid lookback? Well, actually, that doesn't apply to Medicare does it? I know some of the process is the same but I'm not sure about this 'lookback'. I just threw away all of my sister's, my mother's and my papers that were dated prior to January 2018. ***holding breath***
 
Paperless is over sold. Electronic waste is more harmful to environment. And the individual must provide ink, paper, computer and internet service to get information on their own account. Company offices usually do that. "Paperless" is frequently nothing but cost shifting to the consumer.
 
I've gone paperless with everything and I don't regret it. The only reason I can think of for not doing it is if there's ever a cyber attack and no one can access their statements online.
 
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