Financial Decluttering: What to Keep, What to Save, and What to Review in 2026
Organizing your financial documents doesn’t have to be complicated. In this episode, Charlie Gruys breaks down what to keep, what to save, and what to review so your financial life stays organized and stress-free in 2026.
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This discussion is with Vector advisor Charlie Gurys.
Summary
As we kick off the new year, we want to share a simple habit that can make a meaningful difference in your financial life: organizing your financial documents.
Think of this as your Marie Kondo or Barbara Costello moment—but for your finances. A small amount of effort now can make the rest of the year feel smoother, more organized, and less stressful.
What does financial decluttering involve? It really comes down to three key areas: account statements, tax documents, and important legal paperwork.
1. Account Statements & Confirmations
Your monthly or quarterly custodian statements are the official records of your accounts. If you’re still receiving paper statements, consider switching to electronic delivery—it’s faster, easier to store, and more secure.
In most cases, keeping your most recent statement is all that’s needed. If you’re holding onto statements from 10–15 years ago, it’s worth checking with your advisor before discarding them. Older documents may contain cost basis details that aren’t always tracked by custodians.
2. Tax Documents
Keep your most recent tax return somewhere easy to access as new tax documents from the prior year begin arriving. Having last year’s return handy helps you know what to expect and simplifies the process for you or your accountant.
A simple system works best. Consider creating a folder—digital, physical, or both—for each tax year. Inside, include items such as:
W-2s and 1099s
Investment statements
Charitable giving receipts
Medical and childcare expense records
Mortgage interest statements
Estimated tax payments
Any other documents needed for filing
3. Important Legal Documents
This category includes:
• Wills
• Powers of attorney
• Healthcare directives
• Beneficiary designations
• Insurance policies
• Birth and marriage certificates
Make sure these documents are up to date, stored securely, and accessible to someone you trust. Having them organized provides peace of mind and makes things much easier for your loved ones if they ever need them.
A Simple 30-Minute Challenge
Schedule just 30 minutes this week—Tuesday at noon, for example—to:
• Review last year’s tax return
• Check on your key legal documents
• Create folders for the new tax year
You might even consider making this a recurring annual calendar event. Your future self—and your family—will thank you.
Staying organized reduces stress, helps prevent mistakes, and keeps your financial life running smoothly. And if you’d like help getting started or want to review your documents together, don’t hesitate to reach out. We’re always here to support you.
Chapters
0:00 Introduction to Financial Decluttering
0:53 Organizing Statements and Confirmations
1:29 Managing Documents Efficiently
2:08 Keeping Important Legal Documents Safe
2:37 Your Simple Financial Organization Challenge
3:24 Closing & Disclaimers
Contact Us or Schedule an Intro Call
These discussions aim to spark dialogue about enhancing retirement readiness and making more informed financial decisions. At Vector, we delve into the nuances of scenario planning, offer insights and guidance tailored to each client's unique circumstances. If you or someone you know is pondering their financial future or seeking clarity on their retirement plan, we're here to help.
Transcript
(adapted with ai)
I'm Charlie Gruys, a Wealth Advisor here at Vector Wealth Management. As we kick off the new year, I want to talk about one of the simplest but most overlooked habits that can make a big difference in your financial life: Organizing your financial documents.
Think of this as your Marie Condo or Barbara Costello moment - But for your finances. A little effort now can make the rest of your year feel smoother and a lot less stressful. So, what does financial decluttering actually mean? It really comes down to three areas, statements from your custodian, tax forms and returns, and various legal documents. Let's walk through each one.
Statements and confirmations. Your monthly or quarterly. Custodian statements are the official records of your accounts. If you're still getting them by mail, consider switching to electronic delivery. It's faster and easier to store and receive.
Keeping the most recent statement is all that is needed generally. For organizing statements older than 10, 15 years, ask your advisor if these documents should be kept as there may be some cost basis detail not tracked by the custodian. Tax documents.
Keep your most recent tax return, somewhere easy to access when new tax documents start arriving for the current year.
Having last year's return nearby helps you know what to expect. A simple system works best. I recommend a folder for each tax year, whether it's physical, digital, or both. In mine, I keep things like 10 99, statements, W2s, charitable giving receipts, medical and childcare expense records, mortgage interest information, estimated tax payments, and whatever else you'll need when it's time to file taxes.
Important documents. This includes your will, power of attorney, healthcare directives, beneficiary designations, insurance policies, birth certificates, and marriage documents. Make sure these are up to date and stored safely, but also someplace someone you trust can access them.
Having these organized gives you peace of mind and makes things easier for your loved ones as needed.
Here's your simple challenge. Schedule yourself for just 30 minutes this week. Tuesday at noon, for example, review your last year's tax return, check on your key legal documents and create your 2026 folders, and then consider making this financial organizing task a reoccurring event on your calendar, your future self, and your family will absolutely thank you.
Being organized reduces stress, helps you avoid mistakes, and keeps your financial life running smoothly.
If you'd like help getting started or want to review your specific documents together, feel free to reach out. We're always here to support you.
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