I went away from those files and have changed to Lever Arch Files instead. I have one folder per area of focus, with 31 plastic dividers, each one is a project or a regular meeting. So I have only four folders and they sit on my desk right in front of where I do my paperwork, so very easy access. These folders are only for my current active open loops, I have separate project folders that are the permanent files, and will be retained by the company long term. When my working folders are getting full I sort through the stuff, trash what I don't need, and put essential info in the permanent files if I'm not needing it frequently.
I had to change as we are moving offices soon, and the new desks will have very limited storage at our desks, with most of the storage in other places in the building. So the permanent project files will go away from my desk and only active material will stay on my desk. I'm starting to get used to it, you think more about what you really need.