I have a filing cabinet with one drawer for hanging folders. Everything gets sorted and put in there. When a folder gets too fluffy I will pull it out and shred old stuff.

I could probably get rid of a lot but this method does come in handy occasionally. Most recently were my 2023 taxes which I filed in July (I had an extension). I yanked the 2023 file and immediately had 90% of my donations and medical expenses.