Most financial stuff should be kept for 7 years. It helps every year if you get one of those big files divided into months and just file all your bills, statements, etc away by month. Been doing this for years and keeps stuff organized and easily found.

Some things shoud be kept longer such as mortgage docs, deeds, brokerage statements (for proof of long term gains or losses). Those things get their own file. I punch holes in them every month and put the newest on top of the stack in the file. One file can last that way for many years.

HTH,