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Rocket Dollar review

by John Saunders
30th Sep 22 11:55 am

The concept of retirement accounts and 401Ks is nothing new. For as long as people have been investing in the stock market they have been using the market to build their retirement and 401K portfolio.

As the world of investing continues to evolve, so does the concept of the traditional retirement account and 401K. More and more people are looking for new and innovative ways to invest in the future.

That’s where Rocket Dollar comes in. Keep reading to learn more about Rocket Dollar and get a Rocket Dollar review.

What is Rocket Dollar?

Founded in 2018, Rocket Dollar was created to answer the question, “What if I want to invest in something other than stocks and bonds for my retirement and 401k accounts?”

Where traditional brokerages and brokerage websites limit those investing in their retirement, IRA, or 401Ks to traditional investments such as stocks, bonds, and ETFs, Rocket Dollar allows for anything you can invest in to be included in your portfolio.

How does Rocket Dollar work?

The reason why Rocket Dollar can allow you to include alternative investments in your portfolio when many of the traditional brokerage houses can’t is because when you open an account with Rocket Dollar they set up your account like it’s a company. In fact, in some states Rocket Dollar will even open a Limited Liability Company (LLC) for you on your behalf.

Once your account is up and running you can invest in pretty much anything you want and have it included in your portfolio. Since Rocket Dollar still does have to follow federal regulations, there are certain things that the IRS does not allow to be included, but that list is quite small.

What can I invest in using Rocket Dollar?

Rocket Dollar’s approach is pretty much, if you can invest in it then you can include it in your portfolio. Some of the investment opportunities that Rocket Dollar allows their clients to include in their portfolios include:

If you come across an investment opportunity that doesn’t fall under one of the categories above, Rocket Dollar will allow you to bring your own deal (BYOD) to them. As long as the investment is IRS-eligible, the team at Rocket Dollar will work with you to get it added to your portfolio.

What is Rocket Dollar’s fee structure?

Rocket Dollar charges a one-time setup fee as well as a recurring monthly fee. They offer two different plans to choose from, Silver and Gold.

The Silver plan is Rocket Dollar’s standard plan and will run you $15 a month plus the one-time setup fee of $360. The Gold plan, which comes with some additional perks like expedited funding will run you $30 a month with a one-time setup fee of $600.

While these fees might seem a little high compared to other 401K and retirement plans that are offered by the major brokerages, they come with the freedom and ability to invest in a much more wide range of items and products.

Who is Rocket Dollar designed for?

Really, anyone who is looking to make alternative investments for their retirement or 401K accounts is the ideal Rocket Dollar client. That being said, there are certain groups of people who might find Rocket Dollar even more perfect for them.

Experienced traders who aren’t bothered by high upfront fees will find themselves being able to take full advantage of Rocket Dollar and all its services.

Unlike other, more traditional brokerages, Rocket Dollar allows them to call the shots and have more of a direct hand in how their portfolio is laid out. They can also choose from over 10 different alternative asset classes, meaning there is very little that they CAN’T invest in.

Is Rocket Dollar safe?

While Rocket Dollar is a newer company, and there is always a risk when it comes to investing, it is a trustworthy company. As of September 2021, they had over $350 million in assets under management.

Want to start a Rocket Dollar account after reading this Rocker Dollar review?

If you are someone who is looking to diversify your portfolio and invest in some non-traditional ways then Rocket Dollar might just be the perfect company for you. While their fees might be a little high compared to some other companies, it comes with the freedom to invest in pretty much anything that you want.

For more information on Rocket Dollar and the services that they provide, or to open an account and get started investing in what you want to invest in today, click here.

 

The above information does not constitute any form of advice or recommendation by London Loves Business and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Appropriate independent advice should be obtained before making any such decision. London Loves Business bears no responsibility for any gains or losses.

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