An old stock market dictum says that spring is for profit-taking. In this classic market psychology, you “sell in May and go away”, believing that stock prices plateau or retreat in spring and summer. You return to stocks in the fall, taking advantage of bargains and factors that will encourage a hot fourth quarter. Is there any credence to this approach now?
The recession keeps older investors out of stocks, but younger workers keep the faith.
According to the US government’s web site, there are items you can discard.
Cancelled checks for cash or nondeductible expenses.
Expired warranties
Pay stubs, after reconciling with W-2
Other records no longer needed, like those that have been replaced by newer versions.
But that tax form you just filed – you should keep that for seven years from the filing date.
This government web site is a helpful resource for managing your household records.
Here is a reference table to help determine how long to keep your documents:
In the news this month – Domestic Economic Health.
Gas prices were putting the clamps on the consumer, right? Wrong. It seemed consumer spending was rising, perhaps partly in response to increased fuel costs.