Financially Speaking

I writing this post for myself as much as anything.  Jane Bryant Quinn has an excellent article in the My Money page of the September 2011 issue of the AARP bulletin  entitled No Excuse for Ignorance.  I confess to being guilty.  Too many things to try to remember.  Gives me a headache!

However, she also includes ideas for those of us who are memory challenged.  Put notes with all important documents that spell out what to do in case of death or divorce.  Good stuff here.  At least I know where all our important documents are, but I’m not sure I will know what to do with them.

She also includes a list of important papers that need to be keep and labeled in a safe place.  They include:

1.  bank records and the safe deposit box key

2. Social Security numbers

3. retirement plans and investments.

4. insurance policies

5. wills and trusts

6. health care proxy and power of attorney

7. loans and deeds

8. personal papers such as marriage certificate

9. recent tax returns

10.  names and contact information of broker, financial planner, and insurance agent

11.  log-in information and passwords to online accounts.

I know I need to get better organized.  I’ve only just begun to write down log-in info and passwords.  I know most of them, but some that I don’t use often are hard for me to remember.

Now, where is that safe place where I can keep all of this information?




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4 Responses to Financially Speaking

  1. Freedom Smith says:

    That is a good question, about the safe place. We have a safe in our walk in closet. We also have a safe deposit box at the bank. But we also have a file cabinet with files and there are social security numbers and other important information there. It is difficult to get it all done and find a pace for it.

    • I know most of our really important papers are in the safe that we have downstairs. It is hidden behind a fake box so it looks just like all the other stuff down there. But I also have info and bank statements here in my desk. I know I really need to get more organized. Unfortunately, paper work is pretty low on my priority list!

  2. Erin Michel says:

    What great advice! These are all documents I used to have to nag people about getting at my last job, so keeping them in order and in one place is super helpful to children/family when they’re needed! A safe or fire-safe locking filing cabinet are the best places for those things. Recent bank statements are also really important!

    • We sort of got our affairs in order before my husband had his surgery, but our kids would still have a hard time figuring stuff out if both of us were to die at the same time. Maybe I will take time to get everything in one place, or at least a list of where to find things. That might be easier!

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