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Millionaires? Try $700,000-aires While it may be hard to feel sympathy for America's millionaires, they're feeling the economic crunch, too - nearly a third of their assets have disappeared in the downturn, according to a consulting firm's report released Tuesday. Do you want to be your own banker? Question: An adviser has been telling me about a concept that he calls "infinite banking." Apparently, it involves using a life insurance policy to become my own banker. It seems like a good idea, but something doesn't seem quite right to me. Do I have cause for concern? - Matt, St. Louis, Missouri |
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