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Someone was telling us about their new way of investing -- called managed equity.

Here's the gist of what I understood:
-- you somehow take home equity out (not sure which method) and a planner (who gets paid via commissions from your account) manages the money.

But the money is not invested in just a plain old way. It somehow goes to something that has to do with your insurance. The whole idea behind it being that you take your equity (thereby taking chances with the bank's money) and work it as your retirement money (which I'm told is tax free at time of withdrawal) but you increase your mortgage payment now (and not invest in IRA's or other retirement vehicles).

They also said if there's an emergency, they can take money out without penalty (you're not actually taking your own money out but a loan against the money you have invested).

I'm sorry if all this sounds like gibberish but it was all I really understood.
So my foolish antenna went up raising lots of questions. I've tried searching "managed equity" but have not come up with any good explainations of it.
Can anyone here clear it up or at least point me in the right direction?
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