The Chris Voss Show - The Chris Voss Show Podcast – Unlocking Retirement Savings: Rocket Dollar’s Alternative Investment Platform

Starting point is 00:00:00 You wanted the best... You've got the best podcast. The hottest podcast in the world. The Chris Voss Show, the preeminent podcast with guests so smart you may experience serious brain bleed. The CEOs, authors, thought leaders, visionaries, and motivators. Get ready, get ready. Strap yourself in. Keep your hands, arms, and legs inside the vehicle at all times.

Starting point is 00:00:28 Because you're about to go on a moment. Monster Education Roller Coaster with your brain. Now, here's your host, Chris Voss. I'm host, Voss, here from thecrisvoss Show.com. And then you're doing with Ireland Leasease. That makes a visual welcome to 16 years and 2,500 episodes of the Chris Voss show when the oldest podcast lives around. And I'm only 20, so I don't understand how we did this for 16 years.

Starting point is 00:00:55 And any, guys, go to Goodrease.com, Fortress, Chris Voss. LinkedIn.com, Fortress Chris Foss. Chris Foss 1 on the TikTokany and all those crazy places on the interwebs. Opinions expressed by guests on the podcast are solely their own and do not necessarily reflect the opinions of the host or the Chris Foss show. Some guests of the show may be advertising on the podcast, but it is not an endorsement or review of any kind. In the Sky. Today we have an amazing man joining us and we're going to get into it with him. Find out more about him, who he is, what he does, and how he does it.

Starting point is 00:01:26 Henry Yoshida is the co-founder and CEO of Rocket Dollar, a fintech company transforming how individuals invests their retirement savings. Retirement? What? You're supposed to save for that? Ah, I'm not a millennial. Anyway, with Rocket Dollar, savers can diversify beyond Wall Street into alternative assets such as real estate, startups, private equity, and cryptocurrency, all within tax-advantaged

Starting point is 00:01:54 retirement accounts. on the show, Henry, how are you? Thank you very much, Chris. I'm doing great. Thanks for having me. I'm going to do my impression, Gen Z. What's retirement? No, I'm just kidding. So, Henry, give us your dot-coms. Where can people find you on the interwebs? Sir, we are at rocket dollar.com, or you can find more information. Our parent company, it's pretty apropos. Our parent company is retired.com, but to find us directly, we're at rocket dollar.com. So, R-O-C-K-E-T, dollar, D-O-L-L-A-R dot com. And then I'm, I'm, I'm pretty active on LinkedIn as well. So people can people, a lot of people message me there too.

Starting point is 00:02:31 I have rocket dollar anytime I meet a new gal and start taking her out. The dollars just rock it out of my pocket. So I don't know what that is. So it's expensive to date these days, folks. Anyway, give us a 30,000 over you. What do you guys do there, a rocket dollar? You know, you describe rocket dollars as one way. When we started the company, it was actually named that my daughter had created. So at the time, she was seven years old, just turned 15. So as of today, if you live in the Central Texas area, I just slapped one of those student driver stickers on the car. So just fair warning, new driver out on the road. So be forewarned if you're in Central Texas.

Starting point is 00:03:06 But at a high level, Rocket Dollar is a company. So as you mentioned, we're a fintech platform, specifically we're an IRA platform. So people can go online. They can open an IRA on our website at Rocketdollar.com in seven steps. It takes about two minutes. So no different than opening any type of IRA account at another provider. But once you have the account open, people can actually invest in stocks, bonds, in mutual funds, they can go beyond that.

Starting point is 00:03:31 So that's the name Rocket. So the idea with a rocket is you can go somewhere that you can't go with a car or an airplane or just by walking somewhere. So our accounts go beyond stocks, bonds, mutual funds, and allow our customers to use IRA accounts to purchase things like real estate, cryptocurrency, private equity. They can invest in a startup technology company directly using their IRA in 401K dollars. That's what you do.

Starting point is 00:03:53 So I know that there's a lot, I was joking about the millennials and the Gen Zers earlier, but, and I think Gen Xers kind of have some similar problem of not probably having enough retirement planning and savings saved up. How much you need to save for retirement if you're in one of those three groups of age groups? Well, you know, this is going to probably be surprising depending on the age group of your audience, but they don't get enough credit. And first of all, millennials now, the oldest ones are, 44 years old. So they're not exactly young pups either. Yeah. I appreciate you starting the show by

Starting point is 00:04:28 saying I'm a young man, but I'm actually on the first half of Gen Xer myself. So late 40s, I'm getting close to 50 years old myself. But studies have actually shown that Gen Z and the younger half of millennials, so I divide generations in half are actually on a better track than we might be as Gen Xers and older. So people don't know that, but they're just more aware. I think there's more information. But to answer your question specifically, there was a recent study. And it was done by the large insurance company based in Columbus, Ohio nationwide. And this is really important because they did the study in 2015 to 2017 first. And they asked people, they did a survey, U.S. survey, just kind of broad-based, all age groups, all income levels, of what amount they just think

Starting point is 00:05:12 they might need overall in a retirement account to be comfortable. And that number at the time was well under a million dollars. So it was in like sort of the high seven, eight hundred thousand our range. They thought if they had that amount saved up in a nest egg, then they'd be able to sustain themselves. Now you flash forward, and we know that inflation probably, say, it's run rampant recently is an understatement. But they redid the study in the last year. And that number now for people to feel, quote unquote, comfortable has gotten close to $2 million, which, as you can't imagine, is a number that the vast majority of Americans fall well short of. It doesn't mean you give up. It just means that that's the number that people think they need to be comfortable,

Starting point is 00:05:48 to be fair, depending on how you live your life, you could live on more, you could live on much less. Oh, really? Yeah. Yeah. I know that Congress, so what's, what's it, is there, is there acceptable, agreed upon, you know, average figure that people should have?

Starting point is 00:06:06 Like, I mean, especially if these tariffs, we're paying, you know, sometimes 20% or 30% more. I'm going to need coffee in retirement, and it's, the coffee's getting out of control. You know, it seems like you're going to need more for retirement. And then help here, I guess, is going to go through the roof, especially if you're on the exchange. You know, if you're an entrepreneur like me, you, you, you're on the exchange of Obamacare. And, I mean, you don't save much if you make so much money, but you, I mean,

Starting point is 00:06:34 you still, you, you, you, anytime I try and go get private insurance, they're like, well, we want a physical and you can't have prior conditions. And I'm like, you know, I, I, I've got brain bleed from the show and they don't accept that. But is there, is there a figure that people have accepted that, you know, is a good, I don't know, healthy average? You know, I think that rather than trying to focus on a figure, because again, that's very, very, you know, personal to individuals and how they live their life. I mean, you know, I know, I know broke doctors and lawyers, right? But I know millionaire teachers and janitors as well. So, oh, yeah. They just choose to live their life differently. So I think I'd answer your question by saying that I wouldn't say it's an

Starting point is 00:07:12 absolute number, but it's just a maybe a decision to be consistent in terms of savings. So I think people in your audience might know that I might sort of give the advice of saying that, look, to get to where you want to be in retirement, it's a journey. And it's not just this one specific destination. It's not a specific dollar amount because it's very personal to you and how you choose to live your life and how much you need to spend and maybe some circumstances that are somewhat out of your control. But what you can control is your behavior. So I think a rule of thumb might be to get in the habit of putting away some portion of every dollar that you earn, whether you earn. $150,000 a year or $500,000 a year. You put away some portion of it. And then over time, that accumulates if you put it into investment accounts or tax advantage accounts like we offer at Rocket

Starting point is 00:08:00 Dollar in the form of IRAs. And you'll be somewhere in a position to have a nest egg. Now, that number on the survey of $2 million, that was just to be comfortable. That doesn't necessarily mean that people need that number. And maybe just fine with drawing an income stream off of half of that, or even less than that, or depending on someone who's got a very high-cost lifestyle, they might need much, much more than that. I mean, I just read that there was a former NFL football player who just

Starting point is 00:08:25 declared bankruptcy, and he'd made over $100 million. So, you usually see that, but Antonio Brown just declared bankruptcy. Oh, really? He did? After his career? Wow. Well, you know, some of the problems they have in the NFL is, they have a lot of kids that got to take care. I remember there's

Starting point is 00:08:42 one NFL guy. I remember he had like 10 kids. lots of child support and my baby mom is and you know that's a that's quite the thing to have after you've gotten out of the NFL during that time you know it's kind of good maybe well and that's also a career where you have to retire notoriously early oh yeah you don't play you don't play football in your 50s unless you're yeah yeah and the so what are some top features or retirement programs are the IRAs or

Starting point is 00:09:14 401Ks. I know there's been some adjustment recently with the Trump administration, the big beautiful bill, and some of the things I think you mentioned pre-show in August, some changes. I don't know. Is it true that you can now invest your retirement savings and a meme coin? You can if you choose to. Now, at the end of the day, you're you're kind of allowed to invest in really anything that's a bona fide investment using your retirement dollars. I think the limitation comes on finding a platform that would actually allow you to, to use that account type. So the account type is the IRA.

Starting point is 00:09:49 So it's not that army in Ireland. The IRA in the United States stands for individual retirement account. So it's tied to an individual. Everyone in America is eligible to open one and fund it. And when you put money inside of these accounts, the money that you put in is able to grow without you owing taxes until you're in retirement age. So in America, they define that as 59.5 or older.

Starting point is 00:10:14 this is a big difference. So let me kind of just explain with an example. Let's just say that you start not necessarily early. And this is a credit. I mentioned this earlier, but the Gen Zs, they actually start opening these types of accounts in their 20s. And, you know, someone like my daughter just turned 15, she has a Roth IRA and she's 15. And I was just thinking more retirement than I do. I don't even know what I was thinking about at 15, but it wasn't anything definitely that complex. But let's just use an example of someone who starts at 30. And they decided to just put money into an investment account, regular taxable account, and then you got another person who does the same thing, same amount of money starting at the same age at 30, but they put it

Starting point is 00:10:53 into an IRA. The different person who puts it in the taxable account actually has to pay taxes on that account on a yearly basis. So depending on what they do, what happens in that account, if it's a mutual fund kicking off dividends, they have to add that to their income. So dollar for dollar, the money you put in, depending on your tax rate, could you'd have 30% more per year or 20% more, you know, how much you actually owe in absolute terms. And, and as you can imagine, over the course of the age of 30 to 60, that makes a huge difference, right? The person who didn't have to pay taxes for 30 years is going to keep it all reinvesting in the account. I mean, we're talking like a 30% difference in terms of size, maybe 50% difference in the

Starting point is 00:11:31 overall account size. Yeah. That's got to be, you know, and then, you know, the other thing you've got to factor is health insurance costs. Like, health insurance out of control. And if you, I suppose if you, you know, I've been lucky so far, knock on wood, but, you know, they can probably, you know, unanticipated heart or issues or health issues can eat away at your retirement savings, right? Well, it could just eat away at your assets in general, right? I mean, it eats at you in two ways. The health problems eat out you in two ways.

Starting point is 00:12:05 One, and you're right, I guess I'll first start by saying that the costs and the rate of increase in health care costs has gone up faster than. the rate of inflation. Another thing's gone up faster than the rate of average inflation is educational costs. So if you are someone with kids and they end up needing money for their education, the cost of that and health care has gone up at a rate that's almost double the rate of average inflation for the last 25 years in the United States. But the other problem with health care, though, is that health care, depending on what the problem is, limits your ability to earn income. So you're hurt in two ways, right? You have to spend a lot of money to get yourself right. And you may be

Starting point is 00:12:41 limited in your ability to actually earn money if you're hurt, sick, or incapacitated in some way, shape, or form. Yeah. So people need to prepare for this. They need to, I think that's amazing. Your daughter is 15 and she's already got a retirement account. Like, I feel like an idiot at this point. Like, what do I have been doing all my life? But I know there's, I know there's one of the other things. Do they still have the limits? It used to be that once you turn 65, they started making it to, like, if you didn't retire, they made it really taxable, painful taxability-wise. And then I think it's 70 again, where a lot of your income starts getting taken, I think, by taxes, if you're, like, I'm one of those people that's never going to retire.

Starting point is 00:13:27 Like, Warren Buffett, I don't plan on retiring until seven years after I die. So I've been an entrepreneur in my life. I intend to be an entrepreneur until, I don't know, until I'm rambling on this month. Mike, and I've already been doing that for 16 years, so they haven't put me away yet, but right, right, but you're only 20. That's true. I am only 20. Good point, Doc.

Starting point is 00:13:48 So how easy is it to set up account and work with you guys? Who are the people that you see usually come to you guys and utilize your guys' service? Yeah, well, you know, maybe first I'll answer your question about what happens with the taxability. So here's the thing, the thing about retirement accounts, and they are a massive amount of money here in the U.S. So when I tell people the numbers, I'm not even sure people can sort of fathom it, but the current amount of monies that sit just in IRA accounts in the United States is between $17 to $19 trillion. And in 401Ks, we're in the range of $7 to $9 trillion. So add those two together,

Starting point is 00:14:23 we're starting to push close to the high 20s, low 30s, and with a T with trillions, right? So I don't know how often that number is mentioned on the show, but that's the magnitude that we're dealing with. So the caveat is that that money is in these accounts and actually hasn't been taxed yet. So the government hasn't been able to get their taxes due on these accounts. So as people get to a certain age, and the age, luckily is a little bit later, but they pushed it back to the age of 72. So once you start turning 72, then if you have not taken money out of your retirement accounts, the government starts to require you to take money out of the account. So when you do take money out, that's when you pay taxes on the amount that you take out. So let's say you take out $100,000 when you're 72.

Starting point is 00:15:08 That's as if you made that money and earned income of $100,000, at which point the government will get whatever the taxes do. So depending on what state you live in and what tax bracket you're in, you may end up sending $23,000 or $20,000 or $26,000 of that $100. So you net $74 to yourself at $26,000 in income, you'll get the rest of the government. And they'll make you do that. And it's based on a formula of how long they think you're going to live.

Starting point is 00:15:37 So Warren Buffett's outlived the expectancy of what an average American male should. He's in his early 90s now. His business partner died right at 99 right before his 100th birthday. But I guess we all don't live like Charlie Munger and Betty White, right, in America, close to 100 years old. But what they start doing is they make you every year take a certain amount out. And that amount gets higher and higher as you get closer to the average life expectancy in the U.S. in the low 80s, in the high 70s.

Starting point is 00:16:06 So that's the rule that you were talking about, where they are starting to make you take money out. That's a change. The other one, and this relates to Rocket Dollar, is that in early August, there was an executive order passed to allow Americans to expand beyond just stocks and bonds in retirement accounts

Starting point is 00:16:25 and invest in private and alternative assets, an area we specialize in. So that could be real estate, cryptocurrency, private companies, private credit, private equity venture capital and so forth if you know how to access those vehicles you can do it with your IRA account and at a platform like ours people just go to the rocket dollar dot com website if they know a private deal that they want to invest in they can open an IRA with us they can move money in from any existing IRA or an old company 401k into that new account with us and then they can

Starting point is 00:16:54 deploy those funds and go into a real estate investment property for example as a way to diversify away from the stock market, of which I have a lot of opinions on sort of how that's developed over the 25 years I've been in financial services. Is there any major changes that people need to be aware of off of the recent Trump administration, 2025 adjustments, the big beautiful bill, and I think you mentioned something in August. Yeah. Are there any major changes people should be looking for new opportunities in their accounts for?

Starting point is 00:17:23 I think that if nothing else, I would say that the changes that have happened under the Trump administration have actually allowed more flexibility with what people can invest in using retirement dollars. So I think that's the general theme. So it was an executive order. Executive order isn't actually a codified law. It needs to get past. Companies need to figure out how to implement this so service for writers like a rocket dollar, like a fidelity or an investment manager like BlackRock and so forth. Their T-Roe price, for example, have to figure out like, well, what new products can they create? And then people like myself and Fidelity, we have to decide, what changes do we need to make to our platform now that the executive office has as sort of

Starting point is 00:18:04 codified this in executive order. Maybe it eventually becomes allowable by law and codified in a rule. So how would we adjust our business models to accommodate this? So I think for the average American person, citizen and investor, the takeaway is mostly that the Trump administration, the second Trump administration, even the first one, is just proven to be somewhat more flexible with being okay with you doing more things with your money. Like as in it's not our thing, it's your thing. You know, it's your retirement. You need to take care of it.

Starting point is 00:18:33 It's your money. You can kind of go into the things. I would say that that's just the overarching theme more than anything else, not as opposed to just one specific rule. Okay. I know they were talking about maybe, you know, doing more stuff with, you know, cryptocurrencies and stuff. But it sounds like maybe there's already plenty of stuff where you can,

Starting point is 00:18:52 you can look for that and things. So do they, when they hire you, are they hiring you to manage their money or the different levels or accounts? I notice there's a, there's the rocket dollar IRA, the solo 401K, and alternative investing. Yeah. You want to run a few of those? We've chosen to be just the platform. So people open their IRA whether we've chosen not to be in the investment management business. So we don't have investments that we sell or that we recommend to folks.

Starting point is 00:19:20 So what we found is that there's a lot of people in America that kind of have a, non-stock market type of deal that they're interested. And the limitation is that the bulk of the monies they have set aside to do any investment deal just happen to sit in these IRAs in 401Ks. So we decided it was a better business model for us in 2018 when we started in Austin, Texas, to be just a platform and not to be a recommender. So that way, we kind of stay in this zone where we have no incentive. We have no reason. We're not trying to sell you anything. As a matter of fact, you've already found this real estate deal you want to do or this private company you want to invest in. You just need us to help you access the tax advantage dollars that you have in an IRA at a

Starting point is 00:20:02 provider like Fidelity who wants you to only invest or will only allow you to invest in stocks, bonds, and mutual funds, move that money to our account and then you can deploy it into that private deal that you've already vetted on your own. Now, if I have a retirement account with someone else and I want to move it to you guys, is that possible? Is that the penalties if I do that? No, if it's a like kind of count, you can do that. So there's no penalties.

Starting point is 00:20:26 The penalty would be if you decide to take it out and go buy a new boat with it, for example. Or hookers blow in Vegas, you know. Oh, yeah, that could be that too. But I like to make that in retirement money. Yeah. You know, maybe cash on hand, less sold in a credit card, less paper trial the better. I put my retirement in Vegas. on black, spun the roulette wheel.

Starting point is 00:20:53 Well, you know, Chris today, though, a lot of people think that with a long run-up in the stock market and just a lot of uncertainty on a global macroeconomic level, right, with interest rates that, you know, depending on who you are, you might think that the stock market itself is a risky place to put your money. I mean, at the end of the day, it's probably less tangible than it was like a generation ago, which is less tangible than it was two generations ago. And I say that by saying that back. in the day, right? Owning stock used to be communicated as you're an owner, like you're a part

Starting point is 00:21:23 owner in this company. You have a piece of paper that says you own a part of Coca-Cola or a part of Johnson & Johnson. But I think today, just with technology, the speed of being able to trade in and out at a minimum of a dollar, no one really has any loyalties to any companies, right? I mean, they'll buy and share a share, sell and share a share of Tesla, but, you know, they have no loyalty. They just want to see if they can catch like a quick bump in the stock because they can sell it instantly on their mobile phone just as quickly as they bought it nowadays. And sometimes that can bite you.

Starting point is 00:21:53 I've done those day trading things during the dot-com era. Exactly. You know, you can make 50 grand in like 20 minutes and then you can lose the 50 grand the next day in 10. Yeah, that's right. And that's why people come to us. So I think in a sense, like rocket dollar, depending on what you do,

Starting point is 00:22:10 for people that come to us in the largest asset class that people invest in using our accounts. So we have a little over $12 billion. of customer money. We have customers in all 50 states all over the country. The largest asset class by dollar amount and by a number of people who do the investment is real estate. And I think the reason why is because real estate is a tangible thing, right?

Starting point is 00:22:30 If you buy an investment property in the other side of town from you, you can actually go drive by and see that property. But if you were to buy like a share of stock right now, you know, you don't really participate. You don't just call the CEO and ask how things are going and say, look, you have to tell me what you think and how the business is going because I'm an owner. the company. I'm your boss in a way. I don't think they think that way anymore. It's very intangible and removed from that connection, unlike real estate, at which point you can see it, touch it, feel it, walk in it, step on it, and so forth. And people like that now

Starting point is 00:23:01 with their monies as an investment. Yeah. Get those investments down and everything else. How much do they need to start when they open an account with you guys? So the other thing that we did when we started was we didn't have an account minimum, but we do have a fee. So I mentioned a couple minutes ago that we don't actually procure investments. We don't recommend investments and we don't produce manufacture market or sell or broker any investment. So because of that, the only fees and the way we make revenue is just by charging a flat fee for opening that account and maintaining its status as an IRA. So having an account minimum, we charge a $300 to $300 to $600 set up fee to open the account and then just an ongoing monthly fee to keep it

Starting point is 00:23:45 maintained and we kind of maintain that tax advantage status for you regardless of whether you open an account with us for $5,000 probably doesn't make sense if it's $300 to open it but you know we have customers that have any our average customer has a roughly $75,000 to $100,000 in their account with us we have customers that go all the way up to you know the eight figure amounts in their account I'm just shy of that eight figures account about a eight figure shy No, I'm just kidding. Being funny. But, no, it's really important for people to, you know, know their taxes, you know, save this money, tax-free.

Starting point is 00:24:22 I mean, if you're someone like me, pay a lot in taxes. I think I should have my name on some elementary schools, evidently, because I don't have kids, so I don't get any exceptions. I'm like the guy who pays all the taxes and have all my life. I've talked to legislatures about this. I'm like, can we make a per DM that how many kids you have in the system? is how much you charge because I have zero kids in the education system. Right, right. Why am I paying

Starting point is 00:24:47 for everyone's school? Well, depending on where you live, though, you do get a break on your property taxes. Once you turn 65, they assume at that point you are likely not to have kids in school. I don't know, man. I might be one of those, might be one of them's old Al Pacino, Robert De Niro guys who has kids when they're 80.

Starting point is 00:25:03 I never going to stick with the football team and say Bill Belich. Oh, yeah, I might do the old Billah. He doesn't have a kid where they're yet, but there's still time. It seems like that whole thing's jellin. She's like helping his brand there. What are some other things that people, we haven't talked about that people need to know about,

Starting point is 00:25:20 you know, retirement accounts and planning and getting the best bank for their buck and avoiding taxes with IRAs and stuff? So I've been in the financial services business for a long, long time. I've given talks about retirement planning and how to save for retirement to over 400,000 people across my career. the businesses that I've started sold and the consulting that I've done at Merrill Lynch,

Starting point is 00:25:45 my consulting business, my two technology companies, the current one is Rocket Dollar. But if I were to distill this down for just very actionable advice to folks, it's really just to, one, if you haven't started with the retirement savings, to just get one of these accounts open, an IRA, and look more at where you put your money in terms of the type of account, not like what you invest in. And so I use the term asset location is actually more important than asset selection. So you deciding between one stock or another stock or one mutual fund and another mutual fund is actually not as relevant to you as making the decision of owning, having investment

Starting point is 00:26:28 money in a tax advantage account versus a fully taxable account. Because dollar for dollar, if you make the same investment and you put it into a tax advantage to count, you're going to make an extra 20 to 30% per year because you're not paying current taxes on that money and it's allowed to grow. So that's number one. Number two, if you haven't started, it's just to start with as little as you can and just get a nest egg rolling. That's the main thing. It's like a muscle, right? If you decide that you may be short of this number that makes you feel comfortable and according to a U.S. survey recently, it's $2 million. That's a large number, right? If you know that, hey, at my age, I'm never going to get to $2 million.

Starting point is 00:27:06 dollars the thing is that doesn't mean you you just throw up your hands and don't even trust the race like it means that you probably get started right now and see how much progression you can make towards the number that makes you comfortable and the way you get started is just by doing something anything right that's the thing and once you get going you'll kind of find that that once you see that there's some money is accumulating you kind of get a little momentum and you get motivated so i'd probably say it's just like someone who's trying to lose 20 pounds here in the last 90 days of the year before the holidays and they see their family right saying you want to lose 20 pounds is difficult but if you were to just get started go to the gym a few times watch what you eat for a couple weeks and then you weigh yourself and realize you're down five and all of a sudden you're getting a little bit motivated in other words like going from losing five to ten is easier than going from zero to five thousand and just like you know investing going from zero to five thousand is harder than going from five to fifty thousand once you get in fifty thousand it was for you to go from five to fifty and so forth you got to get started somewhere and you're You've got to get putting away the bucks and all that good stuff. So it says that they can be set up with you guys in about five minutes. It looks like it's pretty easy to sign up there. Yeah, I did do the timing. You know, I always use two minutes and 46 seconds, right?

Starting point is 00:28:21 I'm the guy that started the company. So I was there designed a lot of the early stuff. The average is two minutes and 46 seconds. And really the information you need is just the stuff you have on hand and that you know, right, your legal name, your address, your social security number, all the information that you would expect to need to open an investment or bank account in the United States. So

Starting point is 00:28:39 if you're on the five-minute side, it's just because you're, you know, maybe you were a little bit slow. I'm using slow. I'm like, yeah, I have to henpeck the type thing. So, uh, and then plus I, you know, half the time I have to remember who I am, which personnel I'm using.

Starting point is 00:28:57 Because they, they all, they'll, they'll, they have like 10 personalities. They have like, they each have their own social security number, I think. Oh, I thought you were more referencing that you're one of those like a Jason Born spy novel and you open up your suitcase of multiple passport. Oh, yeah, yeah, that too. That too. Yeah, yeah. Sure, whatever. Cool or wait. Yeah, I have to go through my passport, my fake, you know, James Bond, a tachet case of who I am this week. So, but don't have multiple social security accounts, people, by the way. I think that's illegal, isn't it? The, so people can sign up in your website. They can probably reach out.

Starting point is 00:29:33 Is, do they, they're pretty good customer service. I guess if they have questions, they need to figure. Yeah, so we have, so that's one of the things. So we like to say that we're a technology company in the financial services space, but we have a phone number on the upper right hand page of our website. So we answer that during business hours. So on that side, you could speak to one of our specialists who can answer all the questions about just general IRAs or the types of IRAs we offer,

Starting point is 00:29:59 which are specific to owning alternative and private investments inside of IRAs. And once people become a customer, we actually have even a larger group that helps in the customer service side to walk people through if they have problems and questions about the account. But even if they just go to the website, so I'd tell your listeners that, your audience, that at rocket dollar.com, we have hundreds of articles that talk about these retirement accounts, about alternative investments inside of retirement accounts. So I think maybe our sort of biggest contribution to what I think is this new wave based on the august. August 8th executive order from Trump allowing private and alternative investments in 401Ks is that for six years, we have a database of articles, blog posts, information pages that speak to private and alternative investments in retirement accounts. So the government allowed this since August 8th. So we're about day 45 on that. We've been producing content that's just educational.

Starting point is 00:30:53 It's there. It's not behind a login wall. Anyone can read it. And we've noticed that a lot of people go there just for information. And if we, if you choose to move forward and open an account to enable your IRA investments to go into alternatives. You know, we'd hope you consider us. But, but if not, you can find out and try to learn a little bit about the background of it and see if it's right for you just by going to our site and reading. Well, it's definitely something people need to do, you know, millennials and Gen Ziers maybe cut out there at Starbucks all the time and those door dashes, man. I know some of them are spending like, they do DoorDash two to three times a day. And that's expensive. Like I'm

Starting point is 00:31:30 I've never used DoorDast, so... I've used it very rarely when I'm sick or I just can't get out, but usually, usually I'm just, I'm a cheap Gen Xer. I'm like, oh, I'll go, I'll go get my burger. I'll be fun. Like, 10 bucks is still 10 bucks, the matter how much earn. I'll never get out of being poor growing up.

Starting point is 00:31:49 So to me, I'm still just like, no. I mean, I'll get food delivery every now and then from a delivery service that doesn't, I don't have to pay the huge fees, but very rarely, i think jimmy johns warren buffett's worth over a hundred billion dollars and he counts out exact change to go yeah yeah and he drives you know an old old uh shitbox i think he upgraded his 1989 whatever he's driving a catalach i think it was he drives he drives he usually drives a newish catalogue so yeah i think he's not driving an old one really yeah his daughter made him buy one from the 90s or something evidently or from two thousands or something he's got a newer

Starting point is 00:32:25 one but yeah it's older but yeah it's funny how i think we've had this discussion on the show forward with people that about half of multimillionaires don't drive the latest vehicle on that no no that's that's another thing so I've done a lot of studies and I've read a lot of articles and research about that too but the list of the top 10 cars that are owned by millionaires like actual millionaires in the US so I just want to know BMW Mercedes is in the top 10 but they're not in the top five yeah by models it's actually it's cars like a Toyota rap four and a Honda CRV. Well, you know, they like putting the pipes on those Honda CRV civics and, you know, you see this. That's what those millionaires like is that they like the idea

Starting point is 00:33:11 of driving a paid off Honda CRV and go into their, you know, somewhat modest house by millionaire standards, but they can log into their brokerage and IRA accounts and see that they have $2 million there. So let's, uh, let's, let's round out the show, give people a final pitch out, tell them where they can onboard with you and the dot-coms, etc., etc. Sure. So you can find us at rocket dollar.com, so R-O-C-K-E-T-D

Starting point is 00:33:38 dot com. I mentioned earlier that we do have a phone number, so that's 855-5-RocketD, so that's 8-5-7-6-2-5-383. We have people to answer the phone during business hours across all three United States, all four in the United States time zones. The mountain one doesn't really count. It's like three and a half time zones in the U.S., right?

Starting point is 00:33:58 That's, I'll stand by that just because not everyone participates in that one. But you can find out information, open up an account to do an IRA that will allow you to invest in private and alternative investments. And if you didn't know that concept existed before, it's always been allowed. What's been hard is a digitally enabled provider who makes it easy for you to have an IRA that can do private and alternative investments. And that's what we are at Rocket Dollar. Well, thank you very much for coming on.

Starting point is 00:34:25 It's been very fun and insightful to learn about what we all should be doing to invest in retirement. Thank you. Thanks a lot, Chris. There are you. Thank you. And thanks for honest for tuning in. Go to Goodrease.com, Fortresschast, Chris Foss, LinkedIn.com, Fortess, Chris Foss, 1 on the TikTokity and all those crazy places in it. Be good to each other. Stay safe.

Starting point is 00:34:44 We'll see you next time. Nice to have us out. Great show, man.

The Chris Voss Show - The Chris Voss Show Podcast – Unlocking Retirement Savings: Rocket Dollar’s Alternative Investment Platform

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