Summertime is for fun and relaxation, right? Not so for wealth advisors.
For them, it's the time of the year when the number of account holders raiding their retirement accounts tends to rise, a nervous-making trend that has only accelerated over the past few years.
"I see interesting trends depending on the time of the year, " said Catherine Golladay, vice president of participant services for Charles Schwab. "During summer months. the number of loans (from 401(k) accounts) goes up 15 percent to 16 percent. A lot of it is for college tuition."
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