In this digital day and age I am going to write today about some of the best old-school advice I can give. People seem to have trouble adjusting, when becoming adults, to having to keep track of all sorts of stuff. Since I am a hoarder, organization is key. So here is my decidedly non-21st century advice:
Yup – manila folders in a filing cabinet and/or a fireproof safe. A lot of stuff is still done on paper and keeping track can be a daunting task. If it is a digital file or document, make sure to keep your virtual folders nested and labeled (and backed up both on-site and externally), but printing up hard copies isn’t a bad idea. Try as follows:
1. Important life-event papers – birth certificates (slip them into plastic sleeves), Social Security cards (plastic sleeve), marriage contracts (prenup, civil contract etc), Wills, powers-of-attorney, end-of-life plans
2. objects and projects – for each, have at least 4 separate files – Plans and Prices (research), Estimates, Manuals, Receipts. A “Miscellaneous” for associated or complementary paperwork like permits or correspondence is also useful. This might not have to be locked up. This is for both purchases of goods and for services. “Car tires” is a separate folder from “Car purchase” and both are separate from “car detailing.” Service/goods coupons can be clipped to the front so that they are visible, but should be flagged with a date.
3. Medical – a separate section for each family member. On the front, place a single piece of paper with blood type, conditions, conditions for which you have a family history, a list of allergies (food and medicine and reactions), prescriptions being taken (and having been taken in the last year), procedures (dates, Dr. names and procedure types). Update that paper as often as necessary. Inside, separate folders for conditions and procedures (which can be further broken down – diagnostic, procedural, billing or the like), and medicines.
4. Insurance – home/renter, life, medical/dental, car. Policies spelled out, appraisals necessary, contact people (including both agents and beneficiaries). Take pictures of objects insured (jewelry, car, house etc and date the printed pictures. Clip them to the other papers)
5. Biographical – a folder cover should have a short biography of each family member (important life dates, educational path, places lived). Inside, subfolders for education (including transcripts), work, awards, memberships
6. Clippings – printouts of articles by or about individuals/family members. Nice notes worthy of being saved.
7. Taxes – keep a copy of completed and filed returns along with the submitted documentation or other supporting information (receipts for donations etc) organized by year. Within each year, if you have more than one form (state, federal, other state) separate. For how many years? No idea.
8. Employment – an updated resume, contracts, other work-based paperwork.
9. Investments and financial documents – agreements and statements organized by account, receipts to be reviewed or held on to
10. A life summary – a master list of assets, holdings, accounts (with relevant numbers) contact people, important dates, numbers and so on. This master document should be in its own folder and should be updated often. You should also have a printout of online accounts, passwords and your electronic footprint.
Yes, this smacks of obsessiveness. Really good organization does require a level of obsession, but the ounce of prevention will really prevent huge headaches later on. Also, if you take something out, make sure to put it back quickly and properly. Important papers will only be where they are supposed to be if you put them there. At the beginning this will all seem overwhelming, but once the file system is established (and if you keep it updated frequently), the amount of time it will take to maintain will be minimal and the amount of time it will save will be huge.
Some material will be obsolesced (who needs that old manual when we have a new item?) so folders can be emptied eventually. But don’t be overly aggressive in throwing things out. Sometimes, old stuff is still worth documenting. Even if that means for some things making an “old” file so that you have a basis for comparison, it is worth it to save some apparently outmoded documents.
Are there area I forgot? Sure – add discrete ones for separate topics. If you need a separate folder for “Military documents” make it and break it down into pieces to keep it organized. Are there other ways to organize these? Sure. Choose one. Will material overlap requiring judgment calls? Yes. Be consistent and clear (and notate within a file if content can be found elsewhere). Does everything have to be hidden or under lock and key? Maybe not – some can be out and accessible at least sometimes. Should you separate between “current” and “old”? OK. Maybe even a third category “timeless.” As long as you have a system.
And if you were wondering this is not at all my innovation. I’m the guy. I have spent a lifetime watching women set up and keep these files. I’m just catching on now.