Rocket Dollar is a financial services company based in Austin, Texas. Founded in 2018, it has quickly made a name for itself as a top provider of self-directed retirement accounts. Unlike traditional retirement accounts, which limit the types of assets you can invest in, Rocket Dollar offers its users the freedom to choose from a wide range of investment options.
Many people rely solely on standard retirement accounts such as 401(k)s or IRAs when planning for retirement. While these accounts certainly have their benefits, they often only allow investments in pre-approved assets such as stocks and mutual funds. This means that investors miss out on opportunities to diversify their portfolios.
This is where Rocket Dollar sets itself apart. With their self-directed retirement accounts, investors can broaden their investment choices beyond traditional options. The platform offers access to various assets, including cryptocurrencies, real estate, private equity, and peer-to-peer loans. So, should you sign up for Rocket Dollar?
Learn More About Rocket Dollar
One of the key benefits of subscribing to Rocket Dollar’s self-directed investing services is the wide range of alternative asset classes available for funding retirement savings. These alternative assets offer investors the opportunity to diversify their portfolios and potentially increase their returns compared to traditional investment options.
- Peer lending
- Startup lending
- Business loans
- Equity crowdfunding
- Conventional lending
- Private equity lending
- Various cryptocurrencies
- Real Estate investments
Rocket Dollar offers another unique feature called “BYOD” (Bring Your Own Deal). This allows investors to add unlisted deals offered by private companies to their IRA or 401(k) account.
Rocket Dollar Features
Here are the features that set Rocket Dollar apart from other brokers and make it a game-changer for savvy investors seeking more control over their retirement savings. Get ready to unlock new possibilities with Rocket Dollar’s self-directed investing options.
Self-directed Retirement Investing
Rocket Dollar gives you complete and total control, whereas most brokers let you select your equities or mutual funds. You could even own your herd of cattle if you choose.
When it comes to self-directed retirement accounts, Rocket Dollar takes things up a notch with its IRA LLC feature. At Rocket Dollar, creating a new IRA means establishing a new LLC and bank account. Some of the popular IRA LLC accounts include:
- Traditional IRAs: An option for those seeking tax deductions now, traditional IRAs allow contributions of up to $6,000 or $7,000 for those over 50.
- Roth IRAs: In Roth IRAs, investors aim for tax-free withdrawals in retirement. The yearly contribution limit is $6,000 for those over 50 and $7,000 for those under 50.
- Rollover IRAs: Designed for individuals transferring funds from another qualified retirement plan. Contributions vary depending on the amount being rolled over.
- SEP IRA: The SEP IRA is particularly advantageous for business owners since it allows you to contribute up to 25% of your business’s net income. However, the maximum contribution is $56,000 per year.
Rocket Dollar’s Solo 401(k) plan is perfect for self-employed individuals. It mirrors a traditional 401(k), giving you the flexibility of being both an employer and an employee. It allows participants to maximize their savings potential with substantial contributions and enticing tax benefits.
Investors can explore traditional investment options like stocks, bonds, ETFs, mutual funds, and more through Rocket Dollar’s Solo 401(k) with trust or LLC accounts.
With checkbook control and a self-directed IRA, you can invest in a wide range of assets that align with your personal investment strategy. Once your Rocket Dollar account is active, you gain the power of checkbook control for seamless asset purchases. No more limitations!
Rocket Dollar Pricing
For creating your account, Rocket Dollar charges a one-time activation fee. The applicable activation and ongoing membership fees vary, depending on your chosen plan. You may also be responsible for ACH or wire transfer fees. While Rocket Dollar does not charge commission fees, the platform(s) you use to acquire assets may do so.
Rocket Dollar provides two membership options: the silver account and the gold account. The Silver Account is the basic package with a one-time setup fee of $360 and a monthly fee of $15. Moving funds from another account is free, giving you more flexibility in managing your investments.
On the other hand, if you’re looking for more advanced features like faster services and four free wire transfers per year, then the Gold Account might be perfect for you. With a setup fee of $600 and a monthly cost of $30, it offers enhanced support and additional perks like a custom-named LLC for your IRA investments and a debit card for your investment account.
Final Verdict: Should You Sign Up for Rocket Dollar
The concept behind Rocket Dollar is straightforward. However, before its existence, the issue it resolved was quite intricate. While owning rental property has always been feasible for those who could afford it, including it in a retirement account posed a new challenge. Thankfully, Rocket Dollar makes the process equally effortless after opening an account.
The most exhilarating opportunities outside traditional IRAs include real estate, private equity, and angel investing. Of course, everyone’s objectives and expertise vary, potentially leading to entirely different ventures. Overall, Rocket Dollar offers an excellent service if you can justify the cost and have a specific asset in mind. Click here to sign up for Rocket Dollar today.
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