Rocket Dollar Review

Rocket Dollar Retirement Ratings at a Glance

Opening a Rocket Dollar self-directed IRA or 401(k) account allows you to make a wide range of alternative investments. The difference between a Rocket account and a traditional IRA or 401(k) account is that you can actually choose the types of assets you wish to invest in. 

With a Rocket Dollar account, you’ll be able to allocate your financial retirement assets into any type of investment vehicle allowed by the Internal Revenue Service (IRS). Your transactions are immediately processed because no custodian approval is required, and you’ll enjoy deferred or zero taxes on all gains received in your Rocket Dollar account. 

Some of the most common types of assets you can hold in a Rocket Dollar all-you-can-invest retirement account include:

• Cryptocurrency: You can invest in a variety of cryptos without worrying about being taxed on your gains until after retirement.
• Equity crowdfunding: Your IRA can be used to invest in startup companies that could be the next big thing while the business is still in its preliminary stages. 
• Startups and small businesses: Invest in a small business or startup company and receive any returns that remain tax-free until after you retire.
• Real estate: You can invest in single-family, multifamily, syndicates and other real estate investments. 
• Conventional loans: You can make a standard loan using your IRA, and all the interest payments and principal you receive can be reinvested into the same account.
• Peer-to-peer and private equity loans: You can make a peer-to-peer (P2P) or private equity loan with all the interest and proceeds going right back into the same retirement account. 

If you have a particular investment in mind, a Rocket Dollar IRA lets you invest in anything allowed by the IRS in its Bring Your Own Deal (BYOD) program. If you already know what IRS-approved assets you wish to invest in, the Rocket Dollar team can help you open and fund an account so you can invest in those assets.

You can reach the Rocket Dollar customer support team 24/7 via email and by telephone during live support hours from 9 a.m. to 4:30 p.m. Central Standard Time (CST) Monday through Friday. Alternatively, you can send mail to the company at its address in Austin, Texas. 

If you have an account with Rocket Dollar, you can connect with your client success team member directly for support and to discuss your investment options via the platform’s dashboard once you’ve logged in. Silver account holders can either access support via email or schedule a phone meeting with an agent.   

Rocket Dollar offers two account types with different prices. The first is the Silver account that costs $15 per month with a $360 setup fee. The second type is the Gold account that costs $30 per month and has a $600 setup fee. 

The type of Rocket Dollar accounts you can make investments in through various IRAs and 401(k) plans are shown in the table below. 

The Silver account does not require a minimum opening deposit and lets you BYOD. As a Silver account holder, you also get online document storage, email support, no-cost transfers from your assets’ current custodian and an investment dashboard allowing you to track your investments. Rocket Dollar also provides fair market value reporting on Form 5498 but only for IRA accounts. 

The Gold account includes all of the previous core features the Silver account offers as well as four free wire transfers per year, expedited service and transfers, an option for an IRA limited liability corporation (LLC) and priority support. Rocket Dollar also offers Roth IRA conversion assistance and tax filing for IRS Form 1099-R and Solo 401(k) Form 5500. 

One of the main benefits of investing with Rocket Dollar is that you can put your retirement funds into an account and diversity your investment options to include alternative assets. You can also choose between a self-directed IRA or a Solo 401(k) account.  

Rocket Dollar allows you to have more control over your investments than many other retirement plans do, and you can easily get direction on what to invest in from your service agent. In addition, Rocket Dollar’s platform is very easy to use, so even beginners can get started quickly. 

Rocket Dollar’s mobile app. Source: Rocket Dollar.

Among the best features Rocket Dollar offers are its extensive library and educational resources covering the investments you can make in a retirement account. Articles and webinars in the library cover different retirement options and valuable information you can take advantage of in your self-directed IRA or 401(k). 

A partial list of Rocket Dollar’s educational resources on alternative investing include:

• Earning passive income through franchise investing
• Cryptocurrency taxes and crypto IRAs
• How to earn staking yields on crypto investments in an IRA
• Investing in a pre-initial public offering (IPO)
• Best states to invest in real estate in your retirement account
• Crypto investing and how the IRS taxes digital assets 
• Inflation, hard assets and mineral rights
• Renewable energy investing
• Hedge funds and managed futures
• Rocket Dollar guide to Roth retirement accounts
• Investing into cash-flowing multifamily assets in your IRA
• Retirement account asset protection
• How to invest in startups in your retirement account

In addition to various webinars, whitepapers and articles, you can access Rocket Dollar’s extensive knowledge base that includes a wide range of podcasts covering all aspects of self-directed investing in retirement accounts. The podcast and webinars often host professionals from various industries, and you can also access Rocket Dollar’s blog and receive a free e-book. 

The Rocket Dollar website and platform are intuitive and easy to navigate, so even beginners and people unfamiliar with self-directed investments can learn and begin investing for their retirement. Despite only offering two types of accounts, you can invest in just about any type of alternative investment allowed by the IRS. 

Opening a retirement account with Rocket Dollar requires no minimum starting deposit and takes only a few minutes. You will be asked for your contact information and information on how you plan to fund your account as well as your Social Security number for tax purposes. 

People with a background in certain businesses, such as real estate or stocks, for example, can use their self-directed IRA to make investments in those types of assets. A Rocket Dollar account makes investing in such assets in a retirement account much simpler than previously possible.   

Rocket Dollar vs Competitors

Rocket Dollar provides a great alternative investment service that was previously unavailable to people looking to save for their retirement. A Rocket Dollar account lets you break out of the restrictive traditional retirement investment environment and invest in the alternative assets you really want to invest in. 

In addition to real estate income investing, you can invest in private equity and angel investing to get in on the bottom floor of promising growth businesses that could end up being the new Tesla Inc. (NASDAQ: TSLA) or Amazon.com Inc. (NASDAQ: AMZN). While the initial and monthly price may seem somewhat high, the advantages could easily outweigh the costs, depending on what you choose to invest in. 

Rocket Dollar’s retirement investment service is perfect for self-directed investors and gives you flexibility not previously available through traditional retirement investment brokers. If you’re serious about investing in your retirement but would like to call the shots yourself, then Rocket Dollar might be a good fit for you.  

Benzinga Interview with Rocket Dollar

Benzinga’s overall rating of 4.5 stars for Rocket Dollar is based on the fact that the firm offers self-directed investors an unusually high level of flexibility in the assets they can hold in their retirement accounts.

The lower score given for customer support was because of the limited support options offered for the Silver account, while the four-star rating for pricing is attributed to the initial cost of opening an account, which could seem rather high for those with lower account balances.  

Frequently Asked Questions