If you’re a solopreneur, you probably figured out health insurance shortly after starting your business. You may have even tracked down life and disability insurance policies. But setting up a retirement plan—too complicated, right? It can be, if you want to invest in real estate, cryptocurrency, or other assets that you can’t buy through a brokerage.

Ocho is a company that’s helping solopreneurs build wealth by helping them set up Solo 401k plans and learn about money through video courses.

What Is Ocho?

Ocho is a solo 401k platform that is purposefully built to help business owners maximize tax-advantaged retirement contributions. Ocho takes care of the administration and paperwork so you can focus on building wealth outside of your business.

Ocho charges one flat fee each year, and it gives solopreneurs the freedom to max out their individual 401k contributions year after year.

Ocho allows you to invest in conventional assets (stocks, bonds, ETFs, and other assets from a brokerage) and alternatives. It’s even bringing on a “checkbook” feature that will allow you to invest in real estate (including paying for repairs) through your 401k.

What Does It Offer?

Ocho allows you to create and manage your Solo 401k account through one portal, so you can focus on building your investments and your business.

Flat Fee Pricing For A Solo 401k

Ocho charges $299 per year to manage the paperwork and administration of your solo 401k.

While some companies (including Charles Schwab and Fidelity) don’t have overhead fees, Ocho includes a flat fee of $299. However, they offer a few extras like the checkbook feature and opportunities to invest in alternatives. Ocho also has a video subscription that comes with a separate fee.

Invest in Alternatives

Ocho makes it easy to invest in alternatives like cryptocurrency, real estate syndications, or even startups through Ocho. You aren’t limited to traditional financial assets.

Ocho links a checkbook to your 401k, so you can fund any investment, make any trade, or even pay the plumber if the toilet in your investment property leaks.

Manage Administration and Paperwork

Max Out Your 401k

Not sure how much you can put away for retirement? Ocho helps you to figure out the maximum allowed contribution based on your income in a given year.

Not everyone can contribute the $66,000 maximum contribution in 2023, but you may be able to contribute more than you think. Ocho helps you figure out how much you can contribute as an employee and an employer.

Choose Between Roth and Traditional

You can decide whether to make Roth contributions or Traditional contributions. Ocho even makes it easy to do mega backdoor Roth contributions.

Since Roth contributions grow tax-free and can be withdrawn tax-free, the mega backdoor Roth can be a huge advantage during some of your higher earning years.

Ocho Money Video Courses

In addition to the Ocho Money Account, you can buy a $299 video subscription service (Ocho Money) that gives you access to videos on a range of financial topics.

You can get a taste of some of the content through pre-recorded webinars and blog content. The videos cover a range of financial topics including angel investing, tax planning, and more.

Are There Any Fees?

Ocho charges a flat $299 fee for its flagship solo 401k. If you have W-2 employees who work more than 1,000 hours annually, you can’t use Ocho’s product. The company doesn’t charge any other fees, but the investments you buy may have fees.

On top of the $299 fee for an account, you will pay $299 annually if you want to use the video streaming platform.

How Do I Contact Ocho?

The best way to contact Ocho is through the messaging widget on the website. You can find the widget in the lower right-hand corner of the site. People respond to messages during standard East Coast working hours.

You can also contact Ocho by emailing [email protected].

Ocho is owned by the Vibes Company Inc. The Vibes Company headquarters is 10 Grand Street, Brooklyn, NY, 11249.

How Does Ocho Compare?

If you’re only going to invest in traditional assets, Fidelity, E*Trade or Charles Schwab offer better value. Fidelity and E*Trade even offers robust Roth options.

However, solopreneurs who want to invest in alternative investments can’t find a better deal than Ocho. The company is set up to make alternative investing easy.

Unlike some of the other solo 401k providers, Ocho provides a bank account, a brokerage, and a checkbook, so you can manage your investments directly. It even has great-looking charts and dashboards so you can understand your investing needs.

How Do I Open an Ocho Account?

To open an Ocho Account, you need to provide your email address and create a password. This will give you an online account, but not access to investment options.

To get access to investment options, you have to confirm your eligibility (provide your name, social security number, and address, and answer questions about your business).

As long as you’re eligible, you could have access to an Ocho account in under 15 minutes from start to finish. In some cases, Ocho may need additional information to verify your eligibility.

Is It Safe And Secure?

Ocho requires multi-factor authentication, and uses industry standard encryption and security policies. It has not experienced any privacy or security breaches in the past.

The one area of concern is Ocho’s size. As a relatively new entrant, Ocho has millions under management rather than billions like many other financial institutions.

Its customer service and quality may remain solid as it scales or it may deteriorate. If you’re reluctant to use startups to manage your money, you may want to wait until Ocho has a more established presence.

Is It Worth It?

While Ocho’s financial experts likely have a lot of wisdom, the Ocho Money video subscription doesn’t seem like a good deal. It’s the same price as some premium finance courses that are more thoughtfully curated for specific audiences.

Of course, Ocho gives you a few free videos to sample, so you can try them before you buy. If Ocho’s videos give you a $1,000 idea, the subscription will pay for itself three times over.

On the other hand, the Ocho Solo 401k Account is a slam dunk for business owners who want to invest in alternatives.

Ocho simplifies alternative investing through the solo 401k with very modest overhead fees. You can use Ocho to your advantage for freedom and flexibility with your investment options.

Ocho Features