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Rocket Dollar IRA Review


ConsumersAdvocate.org Rating: 4.1 / 5 (Excellent)
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Rocket Dollar is an Austin, Texas-based online brokerage that was founded in 2018. It currently offers self-directed IRAs and Solo 401(k)s along with gold self-directed IRAs and solo 401(k)s.
 
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How is Rocket Dollar rated?

Breakdown

4.5/5
IRA Types
4.5/5
Investment Options
4.3/5
Account Features
4.3/5
Fees and Discounts
4.3/5
Reputation & Customer Support

Overall Rating: 4.1 / 5 (Excellent)

Rocket Dollar is an innovative online brokerage with a fee schedule unlike most of its competitors. You'll have to pay a high upfront cost, but then you'll only have to deal with a flat monthly fee afterward. There's no need to worry about asset or transaction fees, which makes your costs a lot more predictable. You also have a plethora of investment options to choose from, but choosing the right ones is on you. It's definitely worth a closer look if you're interested in taking more control of how your retirement savings are invested, but those who lack confidence in their ability to do this should consider working with a brokerage where you can get professional assistance from financial advisors.

Rocket Dollar Account Features

Account Features - 4.3 / 5

Rocket Dollar enables you to open a self-directed IRA, either traditional or Roth, in just a few minutes online. While the company doesn't go into detail about all of your investment options, you will have a variety of investments to choose from, including stocks, bonds, mutual funds, certificates of deposit (CDs) and more. You'll have to choose them yourself, though, because Rocket Dollar doesn't currently offer advisor assistance. But if you feel confident in your ability to manage your own investments, this won't be a problem.
Types of IRAs
Rollover IRA
Roth IRA
Traditional IRA
Self-Directed IRA
Mobile App
No

Investment Options

Mutual Funds
Index Funds
Stocks
Bonds
Money Market Accounts
CDs
ETFs
Options

Online Experience

You can quickly sign up, transfer funds, and view your investments through your online Rocket Dollar account. There is no mobile app at this time, but there is a mobile website, so you can still access your account from a smartphone or tablet.

Rocket Dollar Fees and Penalties

Fees and Discounts - 4.3 / 5

Rocket Dollar employs a unique fee schedule. The $360 registration cost is a bit steep, but after that, you only pay a $15 monthly service fee. Whether or not that's worth it depends on how much you have in your account and how that money is growing, but it's a good fit for those who change up their portfolios often and don't want to be hampered by transaction fees.
Management Fee
$15 per month
Trading Fees
There are no asset or transaction fees.
Miscellaneous Fees
$360 one-time registration fee

Rocket Dollar Financial Strength and Reputation

Reputation & Customer Support - 4.3 / 5

Rocket Dollar has only been around since 2018 so there aren't a lot of reviews about it yet. But we weren't able to find any serious complaints about it either, which is good news. If you have any questions, you can reach out to the company through the email or phone number listed in your online account for personalized support.
Year Founded
2018
FDIC Member
No
SIPC Membership
No
Consumer Financial Protection Board (CFPB) Complaints
0
Date Collected
2020-02-24
Live Help 24/7
No

Contact Methods

Phone
Email
Chat
Social Media
Text

Company Profile

Full Name
Rocket Dollar IRA
Company Website
https://www.rocketdollar.com/
Headquarters
221 E 9th St., Ste. 201, Austin, TX, 78701

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Our Partner
Set up an account in 10 minutes
  • Pay one flat, monthly fee
  • Wide variety of investment choices
  • Option to rollover old retirement accounts
  • Traditional and Roth IRAs available
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