Subscribe to Entrepreneur for $5
Subscribe

Rocket Dollar Could Turn Your Modest IRA or 401(k) Into a Serious Moneymaker

This fintech startup opens up IRAs and 401(k)s into high return options with all the old tax protection benefits.

By
Disclosure: Our goal is to feature products and services that we think you'll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

The Covid-19 pandemic was an almost universal game-changer. From how we work, play, and interact with others to how we think about our futures, that year-plus in a world trapped mostly in lockdown gave millions the chance to really think and reflect. 

Rocket Dollar

As more than 10 million new brokerage accounts were opened last year, the biggest single-year increase ever recorded, those new investors also had plenty of time to consider whether there weren’t some smarter ways to go about achieving big life goals like retirement.

Many of these more aggressive investors decided they wanted to take big swings to drive their future nest eggs exponentially. Of course, the pursuit of high return investment opportunities doesn’t exactly jive with the structure of traditional tax-protected IRAs or 401(k)s, with capped contributions and returns that build slowly over time.

For all intents and purposes, that meant investing in potential high return ideas like a new business venture or real estate or digital currency wouldn’t often fit under the auspices of most traditional or even Roth IRAs.

But just as self-directed trading apps have changed the way people buy and sell stocks and mutual funds, self-directed IRA accounts are opening up all kinds of new possibilities for those looking to score big returns of retirement-based investments.

Rocket Dollar is democratizing your IRA.

Rocket Dollar is a new fintech company that says it is shaking up the idea of what a traditional retirement account is “supposed” to be. While tax-deferred IRAs from traditional providers tightly focus investment options to a handful of approved preset funds, a Rocket Dollar Self-Directed IRA or 401(k) vastly opens up investing potential.

Beyond standard stocks, bonds, and funds, a Rocket Dollar IRA can include cryptocurrency, real estate, startup businesses, and other investments that can turn much higher returns than those old school options, while retaining the same tax advantages that make IRAs so popular and vital.

While the idea sounds revolutionary, it’s actually been happening in practice for a while now. Some savvy investors like PayPal co-founder Peter Thiel basically turned their IRAs into pseudo-venture capital funds over two decades ago. But the process requires a deft knowledge of IRS procedure and a sharp eye for investment opportunities that haven’t always been available to rank-and-file investors.

Rocket Dollar says it is helping to break down those barriers, offering users all the tools to make investing in their futures that much easier. Through their streamlined platforms, subscribers can invest in the opportunity they want to pursue, fund that investment, then track its growth, all while that money enjoys the protection of a tax-shielded IRA. And the options will likely blow away anyone familiar with the limited possibilities under traditional accounts. 

For those looking to put their retirement money into investments in single-family, multi-family, or commercial real estate ventures, it’s possible through Rocket Dollar. So is investing in cryptocurrencies, but without the tax problems. For those who want to put part of their retirement into helping a small business get started, users can make that payment using their IRA, then enjoy all the regular IRA tax protections should that business take off and turn a big return. Private equity, conventional and peer-to-peer lending, and more — it’s all possible through Rocket Dollar. They’ve untangled the tricky web of personal and business tax law to make sure all of your transactions are 100 percent legal and 100 percent convenient.

How to get started with Rocket Dollar.

As part of the company's commitment to customer satisfaction, Rocket Dollar also maintains a premium customer service team, ready to help any new member through account setup, funding questions, or any management questions impacting their funds.

Meanwhile, members can also take advantage of a simple, straightforward pricing process. Rocket Dollar charges a single one-time setup fee as low as $360, then a $15 per month membership fee for its services without any additional asset or transaction costs. 

Right now, anyone interested in seriously bankrolling their retirement can explore a Rocket Dollar IRA or Solo 401k account by checking out all the specs on the RocketDollar website, then signing up for and funding an account.

Prices subject to change