Fiddich Review Centre
Alternative Investment

Pros, Cons, and Who Should Set up an Account

Insider’s experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our our partners, however, our opinions are our own. Terms apply to offers listed on this page.

Rocket Dollar Rocket Dollar account


Silver plan: $360 one-time setup fee and $15/month; Gold plan: $600 one-time setup fee and $30/month

Investment Types

Cryptocurrencies, precious metals, real estate, private equity, startups, loans, and other Rocket Dollar-approved alternative investments

Rocket Dollar Rocket Dollar account


Silver plan: $360 one-time setup fee and $15/month; Gold plan: $600 one-time setup fee and $30/month

Investment Types

Cryptocurrencies, precious metals, real estate, private equity, startups, loans, and other Rocket Dollar-approved alternative investments

On Rocket Dollar’s website


Silver plan: $360 one-time setup fee and $15/month; Gold plan: $600 one-time setup fee and $30/month

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Overall rating

Is Rocket Dollar right for you?

Founded in 2018, Rocket Dollar is a self-directed IRA (SDIRA) custodian that lets retail investors add alternative assets — including real estate, loans, international investments, private equity, and cryptocurrencies — to their portfolios.

The platform also takes its product selection a step further than many of its competitors by offering the option to invest with a solo 401(k). However, a downside to consider is that its fees for 401(k)s are hefty compared to other investment platforms that waive monthly fees and account fees. 

Rocket Dollar vs. Coin IRA

Rocket Dollar is a stronger option for investors in search of a more flexible offering of alternative assets. It’s also a better option if you’re looking to avoid minimum requirements, but CoinIRA is a better choice for fees and those who want to focus solely on cryptocurrencies. 

It doesn’t have any account setup fees, maintenance fees, or storage fees. You’ll just pay 1.25% on buy transactions, and 1% on sell transactions.

Rocket Dollar vs. BitIRA

Compared to Rocket Dollar’s $30 to $50 monthly fee, you’ll pay less overall in annual maintenance fees at BitIRA. Although Rocket Dollar’s silver plan is cheaper ( $180 per year), its gold plan — which costs $360 per year — is more expensive than BitIRA’s $195 maintenance fee.

But RocketDollar has a stronger selection of account types and investment choices. In addition to its solo 401(k), its SDIRA selection consists of traditional, Roth, SEP, and beneficiary IRAs. BitIRA only offers traditional IRAs, Roth IRAs, SEP IRAs, and SIMPLE IRAs. 

Ways to invest with Rocket Dollar

Self-directed IRA

Rocket Dollar is best for alternative asset-oriented investors who want to grow their retirement savings through cryptocurrencies, precious metals, real estate, private equity, and more. The platform has no minimum opening deposit requirements, but it charges one-time setup fees and monthly fees. However, these vary based on the plan you select:

  • Silver: This option has a $360 one-time setup fee, and it costs $15 per month. The plan gives you the option to bring your own deal/investment to its platform, meaning you can tell them what alternative investment you’d like to purchase, even if the company doesn’t offer it. In addition, the silver plan offers an investment dashboard, email support, online document storage, and $0 transfer and rollover fees.
  • Gold: You’ll pay $30 per month and a $600 one-time setup fee with this plan. It includes all of the silver plan’s perks in addition to priority support, faster transfers and account services, four free wire transfers per year, tax filing services, and Roth IRA conversion guidance. Plus, you can set up a custom-named IRA LLC.

You can fund your account by using taxable income, transferring an external IRA, or rolling over a 401(k). And when it comes to cryptocurrencies, it lets you use any exchange that accepts registration of your solo 401(k) or SDIRA. It currently offers account registration instructions for its partner exchanges: Gemini, Cboe Digital, and River Financial.

Solo 401(k)

Rocket Dollar’s solo 401(k) lets you contribute up to $61,000 annually (or $67,500 if you’re 50 or older), and while the platform doesn’t list out the available investments for this account option, it says you can invest in anything the IRS allows. It also has loan perks, allowing you to borrow a maximum of $50,000.

As for eligibility, you’ll need to be self-employed without full time employees to set up the account.

A drawback, however, is that the type of plan you enroll in impacts how long it takes to open the account. For instance, those with silver subscriptions might have to wait two to four weeks until their 401(k) is ready. Rocket Dollar’s gold plan expedites this process, cutting the time down to two weeks.

In addition, you can pay less to set up solo 401(k)s at brokerages like Fidelity and Charles Schwab.

Rocket Dollar: Is it trustworthy?

Personal Finance Insider evaluates a company’s Better Business Bureau profile when assessing trustworthiness, but Rocket Dollar doesn’t have a BBB profile at this time. 

The bureau uses a grade range of A+ to F when reviewing businesses, and its rating generally reflects its opinion of how well a company interacts with its clients. But the BBB also considers type of business, time in business, licensing and government actions, advertising issues, and customer complaint history.

Rocket Dollar suffered a security breach in April 2019, but its record is otherwise clear of any major lawsuits or scandals.

Rocket Dollar — Frequently asked questions (FAQ)

Rocket Dollar lets you invest in alternative assets like cryptocurrencies, precious metals, private equity, real estate, and more. It provides SDIRAs and solo 401(k)s. 

Yes. You can invest in both an employer-sponsored retirement plan and an IRA. 

Traditional IRAs allow for investments in stocks, mutual funds, bonds, and ETFs, while SDIRAs are reserved for alternative investments like cryptocurrencies, precious metals, startups, real estate, private placements, and more. 

If this ever happens, you’ll be able to protect those assets by transferring your IRA to another SDIRA custodian. In addition, Rocket Dollar offers FDIC insurance of up to $250,000 on cash deposits. 

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