Message Font: Serif | Sans-Serif
No. of Recommendations: 3
I was not kidding about keeping all stocks in an IRA or Roth-IRA.
I recognize that this may not be the best advice if you are interested in the results of your investing. But it simplifies tax reporting. And all that happened before I realized the tax implications of what was happening, and 20 or 30 years before I got my first home computer. To make matters worse, most of my records disappeared during one of my many moves. A super headache.

Nowdays, I would keep spreadsheets, etc., of the required information, I have since bought a large 2-drawer filing cabinet mainly for tax and investing information, etc.

In my life, things would have been simpler had my parents bought such a filing cabinet for each of their children and started keeping stuff from birth certificates onwards for each of us. But they didn't. And mine would not have survived anyway because the Nazis bombed where that would have been kept for the first few years. Try to collect your social security if you cannot produce a birth certificate! The social security administration will not even accept a U.S. passport as proof of age: they do not trust the State Department. But they accepted my payments from 1952 onwards. They knew my age then, but forgot it when I tried to sign up to collect.

Bureaucracy will be the collapse of civilization.
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.