my summer internship auto-enrolled me in the company's 401k which i just kept myself in at the max match percentage

it's definitely not much, only $500 in there right now, but it's nice to know that i have something set aside right now and i can keep putting into it (and get free money while I'm at it) and hopefully i'll be prepared for a nice retirement in 40-50-something years time

@mdszy The annoying thing with short term internships is unless you hit a certain threshold before you leave you have to cash out since fees will eviscerate the balance. Then you have to pay the early 401K cashout penalties and file more complicated taxes.

@goldman60 can I not just roll over into a different type of account?

@mdszy As long as you're in a financial position to make the minimum contributions to an IRA to outweigh the fees. The banks don't particularly like low balance 401Ks in my experience. Next time around I'm looking to roll into a credit union IRA to see if its a better experience.


@mdszy My little $500 401K would've been eaten alive in like 3 months had I just rolled it into an IRA at the end of my internship.

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