There are nuances here which I won't go into, but expect/hope others will. if you can find the option, basically, turn it off.
Firstly, the file format of Outlook has severe problems once it gets near 2GB.
Secondly, the "archiving" system stems from a time when hard drives weren't much bigger than the maximum file size Outlook can support.
If you leave everything on its default settings, Outlook will offer to archive stuff after your emails are somewhere between 90 days and 360 days, depending on the version of Outlook and a couple of other things.
If you let it migrate stuff, it will move everything to a file called archive.pst. It won't tell you how to routinely access emails in that archive, and depending on your OS and Outlook version, it may not maintain your address book(s).
The good news is that nothing actually vanishes, it simply becomes really hard to find.
My advice is, say "no" to every request to archive, and examine how to turn that feature off. If you something.pst file is approaching 2GB, consider pruning the junk from it and compressing it (an Outlook option).
I see you have about 2700 items. I've got a bazillion, and I need to manage them from time to time. I think you don't have to do anything right now: simply say "no" to the archive feature, and in the meantime have someone else tell you how to turn it off (I'm a luddite Outlook user).