Savvy Senior: How long to keep tax records and other documents

Dear Savvy Senior,

Is there a rule of thumb on how long someone should keep their old financial paperwork? I have file cabinets full of old receipts, bank and brokerage statements, tax returns and more that I would like to toss.

Recently Retired

Dear Recently,

It’s a great question. As we get older and our financial life gets more complicated, it’s difficult to know how long to keep old financial...