Paper vs electronic record-keeping | Page 3 | General financial discussion | Discussion forum

Winnie said
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By the way, I would like to buy a printer, that prints directly from memory card or USB flash without connecting to the computer. Apparently, after I did some research, it's hard to find such printer reasonable priced, that prints regular size documents from PDF files from memory cards or USB flash. Any recommendations?

That's not going to be possible for PDF files. PDF files require significant processing and memory to render the pattern of colored toner or ink dots to put on the page.

Normally, all that rendering is done by the multi-core processor of and in the memory of the computer running the PDF viewing software. That way, the printer can be cheap because it just needs to how to drop this coloured dot here, here, but not there.

If one wishes to have a printer to do that rendering on its own, the printer will need the processor, memory, software do that, on top of the basic ability to drop colored dots on the page.

Such printers are available for under $500. But, not for just $50.

The risk isn't that the memory sticks will explode! It is that the data will "fade away" over years.

If you rewrite all the files every three months, then they will all be fine.

Some people will write just new files to the memory stick. So, the flash memory cells holding the eight-year old files haven't been written to in eight years. It is those old files that could start having problems.

If one would like those family photos to be available in 30 years, one needs to rewrite them every few years if one is storing them on a flash memory stick.

I wouldn't rely on the financial institution keeping the statements. Loonie and I discovered a while back that EQ Bank doesn't really keep statements. The statements are actually an extract that is generated when we ask for them!

We know this because they had upgraded their system and lost the GIC reference numbers on the HISA transactions. Those GIC reference numbers are in the monthly statements downloaded in the past. But, if one asks for that past monthly statement now, the GIC reference numbers are gone!

Some municipal public libraries offer printing.

Toronto Public Library seems to be one of them: TPL: Printing & Photocopying

Winnie said

Thank you, Norman1, but I don't have library card and really would prefer curbside pick-up vs going inside anywhere now. Willing to pay extra for curbside pick-up, have no problem with that, but don't know who can print and allow me to pick-up from curbside. Any idea?

Long time ago, I had a large PDF (200+ pages) printed at a Staples store. I remember it was not cheap.

Some of the UPS Stores and FedEx stores offer printing services. Not sure about the curbside pickup.

No way to convince EQ Bank to print and mail the form to you?

Norman1, I'm was never worried about files fading, I update them regularly. But I'm more concerned about the device itself, I figure one day it just won't open or work any more because the stick itself is just done. So I have backup mainly because I figure that won't happen to 2 devices at the same time.

Winnie said

I contacted EQ 3 times.
Received only negative responses: "we're online bank and have no capability to print, sorry".

It sounds like EQ Bank didn't think things through enough.

How were they supposed to do RRSP and TFSA transfers without printed forms? Unlike regular accounts, one can't "push" the money in an RRSP account to an RRSP account at another financial institution.

Years ago a friend told me about Western Digital external hard drive. I have it automatically backup everything that has changed on my computer since the last backup. You can set how many backup copies to keep. My cycle is set to 24 hours. I backup overnight. Highly reliable. They are reasonably priced.

Regarding external hard drives and memory sticks, I think they can fail both or infected by some strange viruses.

For that very reason, I always additionally to my memory sticks using simple CD as a storage device. Files on that CD can't be changed, so that is good regarding viruses protection.

Good quality CD usually readable good for about 20 years or so, but every 10 years I'm simple making another CD copy and that is how I'm keeping my data alive and secure.

@Winnie,
If you use a smart phone, there are quite a few monochrome (black only) laser printer you can get for around $100. They are wifi and you can print direct from your phone to the printer. You prob do need a desktop or labtop to set up the printer initially tho.
For example, I use iphone and I am able to print to my Samsung (SCX-4729FW) directly thru my wifi. That printer is at least 5years old+ so current technology should make it even easier in terms of use and setup.

Re usb stick, they are flash memory and are prone to fail. I have at least 1 or 2 in the past that out of the blue they stop working and not recognize by the computer anymore. External harddrive are more reliable as a backup location.

Thank you JenE for printing and mailing the form to me absolutely for free! I really appreciate your help, JenE!

Now I will be able to designate my beneficiary and take advantage of that EQ TFSA special 2.3% rate in 2021. That rate probably will be only for a few months, but it's worth to deposit to TFSA anyways. Without designating my beneficiary I would not do that.