The amount of records you should keep is actually more limited than you think. Here is Clark's advice on what to keep and for how long, and what to get rid of... 
 
What records to keep: 

Tax returns, keep forever  

Tax return documentation, for six years 

Contracts, forever  

Real estate records, forever  

Last pay stub of a job if you leave that job  

Last pay stub of the year for your current job 

All mortgage payment checks (statements), until mortgage is paid off 

All student loan payments, until loan is paid off 

Car loan payment stubs, until the car is paid off 

Cancelled checks, for 7 years  

Bank deposit slips, for 7 years  

Bank statements, for 7 years  

Home improvement records, ownership period plus 7 years  

Investment records, ownership period plus 7 years  
 
What records to toss: 

Credit card statements that are more than three years old 

Past insurance statement 

Old utility bills, except the most recent one from your old address if you've moved 

Recently paid bills (statements), once you have something saying they've been paid  
 
 
>>>For more advice from the IRS on what to keep for tax filing purposes, click here!