I currently get 5 separate monthly statements for 5 different accounts (my standard acct, 2 roths, 2 kids accounts) with my broker (and that number may increase to 6 soon). Each statement is at least 4 separate pages each. So I get 20 pages, plus the paper for the envelope, and any additional add pamphlets that might be included inside the envelope.
I’ve been getting mailed statements ever since I was in high school. I have a complete history of my primary brokerage account statements printed out. I know if I were to get them in electronic format, most likely, I’d print them out at home and put them in their respective notebooks.
So, if I were to go the paperless route as my broker would like me to do, that would mean that I would have to incur the printing costs. I’m just not ready to go that route yet, I don’t see any direct benefit in it for me.
This makes me feel slightly guilty on 2 levels.
- I shouldn’t be receiving the printout of the documents, but I feel nice and secure knowing that I have a hard copy… I don’ t know why I feel I need this, but I do.
- I’m contributing (in a very small way) to the destruction of trees needlessly. I don’t like knowing this…
So I came up with this compromising solution:
- Change all of my brokerage account setup so that I only receive electronic statements.
- Have the e-statements setup go a new email account that I’ll setup to receive just brokerage statements
- Within the email accounts setup a special folder called Acct_Statements, just to prevent accidental deletions from occurring in the my inbox.
- Only print the summarization page of my estatment and put it in my account notebook.
Doing the steps outlined above will still cost me some money, but not much. Plus, I get the privilege of feeling like I make a difference since I’m not using as much paper, thus lessening the need to cut down more trees (in a very very very small way of course…)
So my question is, do you still get statement printouts mailed to you? Or do you have a better solution?
I think I will finish this year still receiving my account statements this way, but in 2011, I may go with the method I described above. Unless someone can provide a better solution…
-D
I guess I have to face the reality that I am officially old. I say that because while I have always been an early adopter of technology I have a hard time giving up the paper. If the companies would retain the detail and make it available for the life of the relationship I would be much more likely to make the change. Until then….
I don’t have my bank and brokerage account statements mailed to me but I still get my credit card statements via the snail mail approach.
For the e-statements I simply log into a account and open the pdf to view my account activity for the month. The statements are avilable online for the previous months so I do not print themand keep them.
Just took a quick peek at the posts below and you got some really interesting ones…esp. the maslow’s hierarchy of needs interpreted by you. I wish I had some mad graphic skills like you, Don!
@LeanLifeCoach
Yeah, I’m the same way… I’ve been getting mailed statements since I was in grade school (Dean Witter back then). It’s hard to stop…, hopefully, I’ll do it next year though. Thansk for stopping by! 🙂
@Jane
I think I will always use the snail mail for credit card statements too! Hopefully, I’ll be ready to drop the snail mail statements from my broker next year…
Thanks, the graph was created in OpenOffice Calc, then just copied and pasted into wordpress. It automatically converted the spreadsheet into a html table format. I like to use OpenOffice for any table or quick chart stuff. Some day I’ll create real graphics using “The Gimp” or “Photoshop”. Take care 🙂
I have my IRA statements mailed to me, but not my bank or credit card statements. I guess that’s becuase I know what’s going on with my bank account and my credit card, but am not too familiar with the IRA. If they didn’t mail it to me, I guess I won’t even look at them. I know I need to change this attitude.
But dedicating a seperate email for e-statements is a very good idea! That way, they won’t clutter my inbox and I won’t have to search for them when I need to look at them. Thanks for the tip Don!
@thriftygal
Glad to help :),
I think it would just make it more organized. Hopefully, I’ll know not to delete anything in that email account either. My biggest problem is my regular account gets hundreds of emails a day, often I’ll give it a quick glance and delete the entire day. Plus having a dedicated account (don’t tell anyone the name of it) means that just those special statement will be going to it (hopefully).
Thanks for stopping by! 🙂