I started doing that a couple years ago. If I hadnt worn it in the last year or if it was covered in paint, all that stuff then it goes. I have some friends that have tons of clothes but havent worn them in a few years since they gained weight and they want to be able to wear them again. I told them that the clothes are out of style and when they do loose the weight they would feel better if they had new clothes to wear anyway.
I am bad with magazines though, I have a HUGE stack of National Geographics, its about knee high and probably 3' square, there is like 20 years of nat geos but I cant get myself to throw them away.