Lifestyle

6 Papers You Should Never Throw Away After 65

By Curtis Jones · November 5, 2026

A file cabinet full of old paper can feel like clutter. Some of it really is. Other pages are the only proof you have of a home purchase, a pension, military service or a medical bill, and throwing them out can cost you later.

Federal agencies spell out what to keep and for how long. These six categories come straight from those rules. When you are done sorting, shred anything that shows your Social Security number if you no longer need it.

Home purchase and improvement records. The IRS guide to selling your home says your home’s basis starts with what you paid, then rises with the cost of additions and improvements that add value, prolong useful life or adapt the house to a new use. Keep closing statements, receipts for a new roof or furnace, and similar papers. The IRS also says that, generally, you keep records relating to property until the period of limitations expires for the year in which you dispose of it, because you need them to figure gain or loss when you sell.

Tax returns and supporting records. The same IRS page says to keep records for 3 years in most cases. Stretch that to 7 years if you claim a loss from worthless securities or a bad debt. Keep copies of filed returns to help with future filings and amended returns. Property records stay longer, as noted above, until the clock runs out for the year you sell.

Pension paperwork. The Pension Benefit Guaranty Corporation’s guide to finding a lost pension says to gather and keep in one place any documents that bear on pension eligibility. Valuable papers include a vesting notice, an individual benefit statement, an exit letter that notes plan participation, and a summary plan description. Documents that show the company’s full official name and its Internal Revenue Service ID number help if the employer later moves, merges or closes. Pay slips and W-2 forms that show your work dates and earnings also help prove eligibility once you locate the plan.

Military discharge papers. Veterans and next of kin can request a DD Form 214 (Report of Separation) and other military service records from the National Archives. The Archives says most veterans and next of kin can obtain free copies of those records through its request process. Keep the original in a safe place. You may need it for veterans benefits, and replacements take time.

Your Social Security card. Keep the card, but store it safely at home. The Social Security Administration urges people not to carry their Social Security card unless it is needed, and says that in most cases just knowing the number should be enough. Its identity theft publication also says to keep your card and any other document that shows your SSN in a safe place and not to routinely carry them.

Medicare Summary Notices and provider bills. A Medicare Summary Notice is not a bill. It lists services billed to Medicare, what Medicare paid and the maximum you may owe. Medicare.gov says to keep receipts and bills and compare them to the notice to make sure you got the services listed, and to check that you paid the right amount if you already settled a bill. Hold those papers until you have finished that check and resolved any questions or appeals.

When a document is no longer needed for tax or benefits purposes, destroy it carefully if it shows your Social Security number or other personal data. Keep the six categories above in a labeled, fire-safe spot and tell a trusted person where they are.

This article is for general information and is not financial or legal advice. This article was produced with the assistance of AI and fact-checked against the sources cited by LightWave Reports.