<prompt> Human: Im young and in college. I have a manufacturing job that Im looking to quit because my full time work schedule is making school much more difivult than it needs to be. Ive been here a year and have 2800 in my 401k. I likely wont get a 401k with a part time job so rather than letting the money sit for 4 years I am considering cashing out.Is 35 lost an accurate estimate? Will I need to put the taxes back or will they come out automatically?  <response>: rather than letting the money sit for 4 yearsWhy not let the money sit for like 40 years, in an IRA? The point of a 401k is to save for retirement. You can roll it over into an IRA set it to moderate risk and let it grow over time. The earlier you start, the better off youll be.But yes, youll lose a lot of it if you cash it out, which is kind of a waste. I did that once when I was in college because the thought of having an extra couple grand was really appealing since it seems like there are so many bills during school and not being able to work more, but it was not a great idea and Id advise others not to do it unless its somehow absolutely avoid-homelessness type necessary. 