What financial information am I required to keep for 7 years?

I am trying to organize all my financial records and I am overwhelmed with old utility bills and credit card statements from accounts no longer in use. Which ones do I need to hold on to, and which can I shred? And is the standard 7 years still appropriate?|||You only have to keep your income tax records, and your expenses you show on your income tax return, if it's any. You don't need credit card statements, and utility bills, shredded. CC statement you should check every month and you can destroy them after you make a pmt , same with utility. Good Luck!|||Different records require different retention periods. Here is a basic schedule: http://www.shrednations.com/articles/per鈥?/a>