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Ocho Solo 401k vs IRA Financial Solo 401k

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Ocho vs IRA Financial

The highest contribution limits, the ability to invest in any asset class (including alternative assets) with tax-free compounding, and the biggest Roth account imaginable at $61,000 (10x higher than an IRA). Create your Ocho Solo 401k Plan, it takes under 10 minutes to set up your plan.

How does Ocho compare with IRA Financial Solo 401k?

Ocho and IRA Financial both offer premium self-directed solo 401k plans with integrated bank accounts. The biggest differences between the two plans are the fees, set up process, and user experience.

The smoothest solo 401k experience

Ocho takes just 10 minutes to create your account, and everything from compliance checks to document signing is all completed seamlessly during the setup process. IRA Financial requires 6 to 10 business days to review your application and assign you an account number. You will be reached through email once your account is approved and ready.

Simple, transparent pricing

Ocho costs $299/year for unlimited investments and access to the full suite of Ocho features, including priority support. IRA Financial costs $999 for the first year, and then $399/year starting the second year. Ocho has no additional fees, no hidden fees, and no fees for assets under management. IRA Financial charges additional fees for record-keeping, crypto trading, and expedited services.

A modern, intuitive interface

Managing contributions, compliance, investments, and asset performance with a self-directed retirement account like the solo 401k is more complex than other more autonomous retirement plans. Ocho has the most intuitive user interface to eliminate chances for errors, and to make everything as straightforward as possible. And if you need help along the way, support is always readily available to assist you.

FeaturesOcho Solo 401kIRA Financial Solo 401k
Cost$299/year$999 for the first year, $399/year starting the second year.
Additional feesNoneCrypto-trading: $200/year + trading fees
Record keeping: $400/year
Checks and wire transfers: $15 – $45
Expedited processing (within 48 hours): $75/transaction
Expedited processing (within 24 hours): $200/transaction
Set up processEveryone completed in under 10 minutes.Your completed application goes into a queue and takes around 6-10 business days to be reviewed and assigned an account number.
Integrated bank accountYesYes
Integrated brokerage accountYesYes
Expedited serviceYes, all requests are filled asap$75/transaction for 48 hours or less, and $200/transaction for 24 hours or less
Roth optionYesYes
Mega backdoor RothYesYes
Alternative investmentsYesYes
LoansNoYes
Mobile appNoYes
Checkbook controlYesYes
RolloversYesYes

Ocho is the preferred solo 401k for business owners

The highest contribution limits, a Roth account, mega backdoor Roth, and the ability to invest in any asset class with tax-free compounding. All for just $299/year, no additional fees, no hidden fees, and no fees on your assets under management.

The highest contribution limits

Contribute up to $61,000 for 2022 and $66,000 for 2023. That’s 3x higher than 401k and 10x higher than an IRA.

A mega-sized Roth account

You get both a pre-tax solo 401k and Roth solo 401k when you open your Ocho Solo 401k. Prefer a tax deduction? Contribute to pre-tax. Prefer tax-free withdrawals in retirement? Contribute up to $20,500 as Roth for 2022.

Mega backdoor Roth solo 401k

The contribution limit for a Roth solo 401k is $20,500 for 2022 and $22,500 for 2023. With Ocho’s mega backdoor Roth feature, you can contribute up to $61,000 for 2022 and up to $66,000 for 2023.

Invest in crypto, real estate, and private equity

The Ocho Solo 401k comes with checkbook control, giving you the ability to invest in any asset class. Invest in traditional assets (like stocks and ETFs) or alternative assets (like crypto, real estate, and private equity).

Integrated bank and brokerage platforms

Set your solo 401k elections, make contributions, and even make investments directly through the Ocho dashboard. Ocho has integrated bank and brokerage platforms build in, so you don’t have to take your plan documents and search for a broker who will accept them.

Ocho is trusted and backed by the world’s top entrepreneurs, creators and money experts.

“The level of insight you get in terms of your money management is not something I’ve seen on any other apps I’ve used.”

3500

Early Stage Users

100+

Startup founders have invested in Ocho

$5M+

In preseed funding

Built by the team that built:

“The Ocho Solo 401k is a retirement plan so powerful and flexible that it feels like you’re getting access to a tax loophole.”

Elizabeth Yin
Cofounder, Hustle Fund

“Every business owner, creator, and self-employed person should have one. The benefits and tax savings each year are a no-brainer.”

Sebastian Fung
Owner, Ask Sebby

“Ocho built something I’ve wanted to exist for a long time – the modern solo 401k with all the best features and full admin support.”

Nate O’Brien
Investor & YouTuber

Transparent pricing with no AUM fees

Unlike other money managers, we charge zero fees on your money under management (AUM) and do not receive any kickbacks from any products we recommend.

All income levels and all business entities eligible

Any business owner, freelancer, creator, or even full-time employees with a side hustle can open a solo 401k. The only requirement is that you have no full-time W-2 employees that work over 1,000 hours in your business (excluding your spouse). There are no income limits – you’re eligible whether you make over $1M or operate a small side hustle.

One plan that fits all your needs.

$299 Annually

The Ocho Solo 401k Plan Comes With

  • Ownership of an Ocho Solo 401k Plan.
  • A Roth solo 401k account
  • Security & compliance monitoring.
  • Personalized investment plan & recommendations.
  • Support for a mega backdoor Roth conversion.
  • A delightfully simple all-in-one investment platform.
  • Full onboarding support and account administration assistance.
  • Integrated bank & brokerage accounts (coming soon).
  • Rollover support from other retirement plans that you already own.
  • Access to any investment options, with full checkbook control (coming soon).