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Rocket Dollar in the News

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Rocket Dollar recently was the subject of a story in Ignites, a leading trade publication for the mutual fund industry. Our co-founder Henry Yoshida spoke with Ignites reporter Emile Hallez about why he created Rocket Dollar and how the company’s self-directed solo 401(k)s and self-directed IRAs are excellent vehicles for making alternative investments.

Start-up Seeks to Stuff IRAs With PE, Bitcoin, Alts-Ignites Article Summary

The article talked on Henry’s past as the co-founder of IRA start-up Honest Dollar, and how it led him to another idea in the retirement planning space: One packed with alternative investments ranging from Bitcoin to real estate.>

Hallez discussed how Rocket Dollar encourages account holders to consider “cryptocurrency, peer-to-peer lending, startups, private equity and real estate, in addition to traditional stocks, bonds and index funds.”>

The company’s individual-401(k) and IRA services went live in June. Rocket Dollar caters to individual do-it-yourself investors. Yoshida sees a market in investors who want to invest substantially in categories other than traditional stock and bond mutual funds.>

Yoshida noted in his interview, “you have people with multiple IRAs, with old 401(k)s, with no incentive to roll them into one consolidated IRA because they are effectively limited to the same types of index funds. Such investors have no meaningful access to alternative investment options. The money they do have is trapped in these types of retirement accounts”.>

Hallez also wrote, depending on what asset classes they seek and on each investor’s goal, Rocket Dollar could serve as their primary retirement savings vehicle or as an auxiliary account that gives them access to a specific investment, such as a turnkey rental property. For investors who want to bulk up on real estate, doing so in a tax-deferred retirement account could be beneficial.>

The article was wrapped up with Yoshida’s final interview insights: Demand for access to alternative investments could rise with growing intergenerational wealth transfer, as Millennials inherit chunks of money from their parents and want greater diversification than they can get in a 401(k).>

The article can be found in its entirety here.>

 

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