Rocket Dollar Review

Rocket Dollar is a self-directed IRA platform best suited for experienced investors who want to diversify with alternative assets.

While its setup fees are high, Rocket Dollar offers greater flexibility.

This review will help you decide if it’s the right fit for your investing strategy.

The Verdict for Rocket Dollar

I’ve given them a rating of 7.25 out of 10.

Rocket Dollar is a newcomer to the self-directed IRA market.

The company offers a wide variety of alternative investment options as well as a robust library of investor resources to learn more about how self-directed IRAs work.

With high account setup fees, Rocket Dollar is best for experienced investors with large portfolios who want to take advantage of the ability to bring their own deal and Rocket Dollar’s flat fee structure.

Category	Rating (out of 10)
Investment Options	9
Pricing & Fees	6
Account Setup & Maintenance	8
Customer Service & Support	6
Security & Compliance	8
Reputation & Reviews	7
Resources & Tools	7
Overall Rating	7.25

In this review of Rocket Dollar, I’ve followed GIC’s detailed criteria for evaluating the self-directed IRA platform.

About Rocket Dollar

Based in Austin, TX, Rocket Dollar was founded by Henry Yoshida, Thomas Young, and Richard Duke in 2018.

With decades of experience in the financial services industry, the founders created Rocket Dollar to give investors different options when it comes to saving for retirement.

Rocket Dollar’s mission is to simplify investing. The company has created a safe, accessible, and transparent platform to make it as easy as possible for investors across the United States to diversify their holdings beyond stocks and bonds.

Rocket Dollar is a new company and is not accredited by the Better Business Bureau.

Investment Options

Rocket Dollar offers several different types of self-directed investment accounts to choose from:

• Self-directed traditional IRA
• Self-directed Roth IRA
• Self-directed beneficiary/inherited IRA
• Self-directed SEP-IRA
• Self-directed solo 401(k)

These accounts can either be direct custody or checkbook accounts.

A checkbook IRA establishes an LLC or trust and funnels returns and disbursements through it.

Rocket Dollar gives you access to a number of alternative investments including:

• Art
• Business Loans
• Commodities
• Crowdfunding
• Cryptocurrency
• Debt
• Farmland
• Fine Wine
• Franchises
• Hedge and Quant Funds
• Peer-to-Peer Lending
• Precious Metals
• Private Equity
• Real Estate
• REITs
• Startups
• Securitized Assets

Rocket Dollar’s checkbook accounts also come with the option to bring your own deal. You can add any IRS-eligible deal to your portfolio.

While this does offer greater flexibility, investors should be mindful that this also comes with more responsibility.

Rocket Dollar prides itself as an IRA as a service company. It partners with a number of asset providers including Kraken, Masterworks, and OneGold.

Pricing & Fees

Rocket Dollar has a structured fee system that varies based on how your investment preferences:

Level	Eligible Accounts	Setup Fee	Monthly Subscription
Silver	Self-Directed IRA	$360	$30
Gold	Checkbook IRA Solo 410(k)	$600	$30

Gold level accounts come with access to more assets including the ability to set up a trust or LLC to manage your investments and unlimited fee-free transactions.

There’s also the option to set up multiple accounts. Silver level accounts will pay a $260 setup fee and a $25 monthly subscription for a second account.

Gold accounts pay a $500 account setup fee and $25 per month for a second account.

Direct Custody and Checkbook IRAs charge a $35 wire fee while Solo 401(k)s charge a $10 fee. Rocket Dollar charges a $50 closing fee to close an account.

Instead of selling assets to fund your account, Rocket Dollar permits in-kind transfers.

This is similar to a rollover but it may not come with the same tax benefits and your existing custodian may charge a transfer fee.

Rocket Dollar currently maintains a waitlist for in-kind transfers.

Rocket Dollar charges higher fees compared to other SDIRA providers. The company charges a monthly subscription fee rather than a percentage of assets under management.

While the setup cost is higher than traditional brokerage services, the flat subscription fee can be a cost savings for large account holders.

Account Setup & Maintenance

Setting up an account with Rocket Dollar takes around 10 minutes and follows a three-step process:

1. Open an account 
2. Transfer funds into your account
3. Invest in assets

You will need to provide information to verify your identity, including your Social Security Number.

In-kind transfers may also require separate documentation. Rocket Dollar uses a custom transfer tool to guide you through the set-up process.

In-kind transfers are similar to rollovers but may not come with the same benefits. At this time Rocket Dollar maintains a waitlist for in-kind transfers.

Rocket Dollar is designed to make investing as simple as possible. Part of the monthly fee covers the management of all documents and forms, including setting up an LLC or trust for a checkbook account.

Accounts come with an accessible dashboard. Gold accounts receive enhanced services including expedited customer service and more control over investments in the dashboard.

Customer Service & Support

Rocket Dollar provides customer support via phone and email. Silver customers can schedule a time for a representative to call them while gold customers can call phone support any time Monday through Friday from 9 a.m. to 4:30 p.m. CT.

All customers can reach out via email at [email protected]. 

Investors who want to learn more about Rocket Dollar’s offerings can reach out to their sales team at 1-855-762-5383.

There are few reviews about customer service support, but one gold customer on Reddit reported long wait times for responses to questions and documents with clerical errors.

Security & Compliance

Rocket Dollar uses two-factor authentication to secure account logins.

It also performs an annual SOC2 Type II audit to make sure its data security practices are in line with industry standards.

While the company gives you the option to bring your own deal, it strives to adhere to IRS regulations.

Investors are recommended to consult with an attorney to validate the legality of transactions.

Rocket Dollar is not FDIC insured.

Reputation & Reviews

Rocket Dollar has a 4.6-star review on Google from 18 reviews.

Positive reviews highlight low cost and transparency. Some customers expressed frustration over the quality of customer service offered and extra fees associated with naming an LLC.

The company maintains social media accounts on Facebook, X, Instagram, LinkedIn, and YouTube.

Resources & Tools

Rocket Dollar provides several resources for investors including webinars, courses, and white papers.

The company also maintains a blog, podcast, and a robust FAQ page on its website. You will need to register with your email address to access Rocket Dollar’s educational content.

Because Rocket Dollar focuses on alternative investments, it doesn’t provide market analytics or tools to help investors evaluate their portfolio.

The company doesn’t provide news updates or market trends either. You will be responsible for keeping up to date on events that might impact your portfolio.

Rocket Dollar Alternatives

While Rocket Dollar is an appealing option, there are other SDIRA providers to consider.

Equity Trust Company

Equity Trust Company is one of the largest and oldest SDIRA providers on the market. The company has a sliding fee schedule which starts at $225 and may be appealing for investors with small portfolios.

It is ideal for someone looking to invest in more traditional alternative assets, like real estate or gold.

Alto IRA

Alto IRA is best for budget-conscious investors. The platform gives you access to over 75 alternative assets and 200 cryptocurrencies.

With accounts starting at just $10 per month, Alto IRA is ideal for investors looking to diversify their portfolio without high fees.

The Entrust Group

The Entrust Group has 40 years of experience and offers a variety of account options including HSAs and ESAs.

Its annual fee starts at $199 and the company charges a 0.15% fee for accounts with total asset values over $50,000.

There are also separate fees for buying and selling assets. It is ideal for someone who wants access to more account options and lower annual fees.

Is Rocket Dollar a good company?

Rocket Dollar offers an easy-to-access SDIRA that connects investors with dozens of alternative asset providers.

While it’s still a relatively new company, customers find value in its services and believe it can be a good option for investors who are looking to diversify their portfolio.

Start investing with Rocket Dollar.

FAQs