Author: Janet Bright
Rocket Dollar isn’t just a peer-to-peer lending platform—it’s a platform that connects the masses with real opportunities and alternative investments through crowdfunding.
By sharing loans facilitated by professional lenders, investors looking to get in on the next big thing can find investment opportunities while bypassing traditional funding methods.
This brokerage is for you if you’re looking for a wide range of non-traditional investing options.
This brokerage may be for your if you are looking for a wide range of non-traditional investing options.
- Rocket Dollar trades every self-directed investment approved by the IRS: Rocket Dollar traders have access to more than a dozen additional asset types.
- Self-directed Brokerage Accounts: Passive investing strategies based on conventional assets are sufficient for most individuals to ensure a secure financial future. Rocket Dollar gives the reins to experienced individuals who exercise due diligence.
- A hefty upfront charge won’t put you off. Regarding commissions, most brokers don’t even charge a setup fee anymore. On the other hand, self-directed accounts managed by Rocket Dollar may be worth paying a premium for in the long run.
How Does It Work?
Tactically, creating an account with Rocket Dollar is super easy. After signing up online and depositing money into your account, you can start investing immediately.
Also, Your Rocket Dollar account includes the creation of a limited liability corporation (LLC) (limited liability company). Your account will be the only owner of this business. The LLC’s checkbook receives any money invested or earned through investments. Personal money and investment money cannot be mixed.
Maintaining compliance with self-directed investing requirements is more straightforward when the LLC manages your account’s investments. When buying and selling assets, you need to proceed with prudence. According to Rocket Dollar. It is prohibited to acquire or sell assets you or your firm owns to “self-deal,”
Advantages of Rocket Dollar
1. Self-directed Retirement Funds
Self-managed retirement funds have never been easier to understand than they are with Rocket Dollar. Back-office paperwork is taken care of, and preferred investment partners are matched with users. Self-directed IRAs and Solo 401(k) accounts are available via the broker. Rocket Dollar users’ investments will grow tax-deferred like retirement savings (tax-free with a Roth IRA). This implies that high-yield investments may save investors tens of thousands of dollars in taxes.
2. Wide Range of Investing Options
With a self-directed retirement account, participants have access to all IRS-approved investments. There is much more to these assets than the usual stock market, bond market, and mutual fund. Users of Rocket Dollar have the option of investing in the following projects:
- Precious Metals and Commodities in Real Estate
- Cryptocurrency
- Crowdfunding equity
- Financing via the use of private equity
- Financing for start-ups
- Loans made via traditional channels
- Peer-to-peer financing
3. Do Anything you Want, Whenever you Want It.
Without a team behind you, self-directed investing may be a challenge. However, you’re in luck because the professionals at Rocket Dollar can assist you in various aspects, even with assets. The company’s personnel are always ready to help you with your investment decision.
Disadvantages of Rocket Dollar
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Absence of Typical Investments or Accounts
Many people find it difficult to disregard the lack of accessibility to more conventional investing. Trades on Rocket Dollar are not permitted to acquire traditional assets such as shares of stock, mutual funds, or options. There are no brokerage accounts, HSAs, or custodial account options supported. Investors with more expertise will find Rocket Dollar more valuable than a newbie.
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High Costs
Rocket Dollar’s $360 or $600 for Gold is higher than most fees in the brokerage sector.
Compared to other brokerage company membership fees, even the $15 per month (or $30 for Gold) subscription cost is much more expensive than others.
A self-directed retirement account with Rocket Dollar may be more convenient to set up and operate, but the service’s price tag may be prohibitive for specific customers.
Conclusion
Rocket Dollar gives investors access to multiple alternative options, unlike other investment companies where you are limited to a few investment options. Investors can choose which options best suit their investment strategy and market conditions. Because of this, Rocket Dollar is a unique choice for retirement savers looking to add a slice of alternative investments to their portfolio while maintaining some degree of control over their overall investment plan.
