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What is Rocket Dollar? | Reviews & Complaints to be Found?

May 23, 2022 by admin Leave a Comment

Today we will look at the Rocket Dollar reviews from consumer protection agencies. What is Rocket Dollar? They are an IRA custodian company that specializes mainly in investment opportunities for individual retirement accounts. Let´s look into this new company in the industry!

Company: Rocket Dollarwhat is rocket dollar

Website: www.rocketdollar.com

Founder: Henry Yoshida

Price: $360 Setup fee +$15 per month

Who is it for?: Self-directed investors, retirees

Overall rating: 3.8 out of 5 stars (3.8 / 5)


Warning!

There are many scammers who will trick you into giving them your hard-earned cash. 

They employ high-pressure sales techniques like calling you every day. 

To avoid this, please do your own research before you decide what firm to invest with. 

You can do this by checking the reviews and ratings independent 3rd party consumer protection agencies give them.

To discover which IRA investment firm consumers rate the highest… who won’t bother you with pushy sales calls… and who you can trust to protect and grow your wealth… then take a look at the top-5 lists of our Self-Directed IRA Dealers.

With that being said, let´s continue with the review on Rocket Dollar!


What is Rocket Dollar?

The company started in 2018 as a fairly new investment platform that positions itself as a low-cost platform for self-directed investors. They are there to ensure that their clients get all the help they need whenever they want to set up a Self-directed IRA or Solo 401k investment plan. The IRA or individual retirement account exists under a trust that holds investment assets acquired with an individual’s earned income for their eventual benefit in old age. The taxpayer is allowed by an IRA account to save their retirement benefits on a tax-deferred basis. 

rocketdollar reviews

Address of the company: 2028 East Ben White Boulevard Suite 240-4010 Austin, TX 78741

How Does Rocket Dollar Work?

Opening an account through Rocket Dollar is pretty simple. A client signs up online, after which he/she signs the required documents, then funds their investments. Once a client funds an investment plan, they can start buying any legal investment. It may seem simplistic, but a deeper review of the factors involved assists the understanding of the complexity of the work put into Rocket Dollar as well as how easy it is to go wrong.

By opening an account through Rocket Dollar, an individual also opens a limited liability company. This company is opened under the ownership of the client’s account. The funds used in investments and the returns go through the LLC’s checkbook since one cannot combine personal funds and investment funds.

The LLC’s control of an individual’s investments account is meant to assist in staying compliant with set laws concerning self-directed investments. However, the account holder should note that they still have to apply caution when buying and selling assets. Rocket Dollar emphasizes that it is illegal to “self-deal” or buy or sell assets you or your business own. Due to this reason, Rocket Dollar offers to help fill the form 5500 for a client whenever it’s required as part of the client’s customer service.

What products do they offer?

Self-directed retirement accounts

is rocket dollar a scam

Rocket Dollar facilitates the operation of self-managed retirement accounts by handling back-office documentation and connecting its users with prospecting investment partners. The platform offers self-directed IRAs and solo 401(k) accounts. Like retirement accounts, a Rocket Dollar user’s investment can save a huge amount of money in tax savings with high-yielding investments. 

The self-directed retirement account offers investors a broad universe of IRS-approved investments.

The investments opportunities available to Rocket Dollar clients include:

  • Real estate
  • Metals: including IRA-approved gold and IRA-approved silver, among others.
  • Precious metals are available in bars, bullion, and even coins.
  • Commodities
  • Cryptocurrency
  • Equity Crowdfunding
  • Private equity lending
  • Start-up lending
  • Conventional lending
  • Peer-to-peer lending

With Rocket Dollars, a client can invest in options that are not on the platform through the “Bring Your Deal (BYOD)” provision, which turns an unlisted option into an investable opportunity. 

As a client, one gains a wide selection of investment options to choose from whenever one needs to invest. With your hard-earned dollars positioned correctly, you will be at peace, knowing you will not lose it all in a moment. Even with the current economic and political scenario’s complexity of existing risks, you will still reap the benefits of your investment in your assets many years later. 

**Also read:

Gold in war (hedge against inflation)

How to protect your 401(k) from a market crash

How to get started?

The company’s excellent customer service makes starting an investment plan with them fairly simple. However, it is advisable for you to start by accessing their website and reviewing the different products they offer. On the website, you will also get a free guide that can provide you with more information concerning IRA plan investment and factors to keep in mind when investing. The guide is considerably helpful to investors looking to open a self-directed IRA account for their retirement. 

This will also provide some background into the company their history. Staying informed will assist you as a client in assessing the viability as well as the security of the intended investment. Should you prefer their services, the next step should be to contact the company through one of the various options given on their website.

A customer support specialist will get in touch with you and provide you with the guidance that you need to open a self-directed IRA or a Solo 401k account. They will also assist you through the investment process.

Whom Are Rocket Dollar’s Partners?

With Rocket Dollar, you can invest in almost anything with the self-directed IRA. The company has several online investment partners that assist when investing in the various options listed above. However, you should not take my word for this; it’s advisable to do your research on these companies.

The point to note is that, even if the partners are not impressive to you, with a self-directed IRA, you have the option to invest and set up accounts in the name of your IRA or Solo 401k, even when they don’t partner with Rocket Dollar.

What Are Rocket Dollar’s Fees?Gold Retired

Each account requires a $360 setup fee and an additional $15/month maintenance fee in Rocket Dollars’ silver option. Considering your account balance, this can be a preferable deal. Any additional fees incurred are included alongside these fees charged by Rocket Dollar.

Rocket Dollar has a Rocket Dollar Gold option for an expedited funding option. This option requires a $600 fee and a $30/monthly maintenance fee for people in need of support closing a deal quickly.

Comparing these fees with the free solo 401k plans by the major brokerage firms, they come out as expensive. However, this option allows you to control and invest in a greater variety of options.

How Do They Compare?

Rocket Dollar isn’t the only company in this trade. When looking for a Solo 401k or a Self-Directed IRA, the options are not limited to just a few companies, there are plenty of alternatives out there.

**On this page you can see our top-6 list of Self-Directed IRA Custodians.

However, here’s how Rocket Dollar compares to a couple of them (see more from link above):

                                 RocketDollar      ALTO           My Solo 401k Financial

Setup Fee:           $360                           $49                  $425

Annual Fee:          $180                           Up to $499    $125

Plan Types:           IRA & 401k               IRA                   IRA & 401k

What can we make out of these results?

This shows the slightly higher overall fees for Rocket Dollar; however, the effect it has on the company’s success, we are yet to see; as the company is fairly young, there haven’t been a lot of customer responses and reactions to derive from. 

How good is their support?

The Rocket Dollar platform is a self-directed IRA and solo 401k provider. It bases its operation on keeping its plan easy to set up and manage. This ensures clients can focus on other demands. They have excellent customer service, which makes their support great.

Is Rocket Dollar a Scam?Gold Retired

So, is Rocket Dollar a scam? No. The company is not a scam but a legitimate IRA investment company. They have real owners documented on their website as well as a real physical address. However, the company is still fairly young, so we are yet to know how well it develops.

Though it is a young company, it has the advantage of numerous alternative investment opportunities, so if you are experienced as a trader, the company will provide the universe of options you need as long as the high fees don’t scare you.

Rocket Dollar Reviews & complaints

One of the best way to research a company is, without a doubt, to look at reviews of the particular company, in this case, Rocket Dollar. However, we do not like to just look at “any” review but we focus mainly on the most well-knwon and trusted independent third-party consumer protection agencies. The reason why we look at those places and put the most weight on that is because only real customers of a product or service can leave their testimonials there.

Below are the reviews on Rocket Dollar:

BBB (Better Business Bureau)Gold Retired

Rating: N/A

Trustpilot

Rating: N/A

BCA

Rating: N/A

Trustlink

Rating: N/A

Yelp

Rating: N/A

As you clearly can see above we didn´t find anything on the most well-known and trusted consumer watchdogs… Again, Rocket Dollar is a very young company so that might be the reason for it.


Rocket Dollars PROS
  • Self-directed IRA or Solo 401k easy setup
  • Alternatives investment options in an IRA
  • An expedited setup option great for those with urgency
CONS
  • Slightly higher than average annual fees

Do you own or represent this company? 

Are you the owner or a representative of Rocket Dollar? Would you be interested in clarifying any of the details we have provided above or adding some details concerning the review? Any information will be added to ensure IRA prospecting investors get the best image of your platform. 

The quickest and easiest method to get in touch with us is to post a note in the comments section below or to send us an email at the following address: contact@goldretired.com.


Final words & Verdict

Verdict: Legit

Overall rating: 3.8 out of 5 stars (3.8 / 5)

Rocket Dollar makes it cheap and easy to invest retirement funds in alternatives. For an experienced person, this is a compelling opportunity. I would be reluctant to invest my retirement dollars in alternative investing. The company is still too young to predict its future capabilities.

For now, I would think it wise to wait until that platform has established a track record of successful investing outcomes. An alternative investment is a risky trade that depends on the prowess of the individuals involved. This is not a trait one can judge on impulse; it requires actual scenarios of triumph over the challenges in the business world to make what I would call “an informed decision.”

As of now, I give the platform a rating of 3.8 out of 5 stars. However, this may change to a higher or a lower index in due time as we update our reviews on this site as soon as new trends come up on the platform.

Recommendation + resourcesGold Retired

Please make sure to due your due diligence and ALWAYS compare different alternatives before you make any decisions to move forward with your investment. You are a smart person, I know that because you clearly understand the consept of doing your own research, you wouldn´t have read this far otherwise, right? So I am absolutely sure that you will find the company that suits your particular needs the best, and that you feel comfortable doing business with!


I hope you found this short review to be helpful and that you now got a better idea on what Rocket Dollar is and if it is something for you or not. We didn´t find any reviews from the consumer watchdog sites, so if you have experience yourself with this company then please share it in the comment section below as it can help others!

I wish you success!

Glanz, investor and team member at Gold Retired

Filed Under: Agriculture, Crypto, Gold, Real Estate, Retirement

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