Alto IRA Review

Alto IRA Review 2022 [Pros & Cons]

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Alto IRA Review

When it comes to saving for retirement, most people invest in stocks, bonds, or mutual funds. However, as cryptocurrency becomes more prevalent, many people are seeking additional options to diversify their retirement portfolios. Alto IRA is a retirement investment platform that enables people to integrate cryptocurrency into their retirement savings plans. Let’s take a closer look at Alto IRA to see if it is a good fit for you.

Onto our Alto IRA review!

What is Alto IRA?

Alto IRA is a self-directed IRA where investors can choose where their money goes within it. They have been working to expand the products that they can offer to their clients by giving them crypto options in addition to their traditional options. These accounts are completely funded by retirement savings and are designed to help clients once they reach this age.

The platform offers its clients the ability to invest in their own IRA in four very simple steps. Rather than not knowing how their money is invested in different funds and accounts, users know exactly where their money is being placed throughout their time in the IRA and have complete control over their money.

Alto IRA gives people an alternative way to invest their money into a retirement account. The different options that are given include cryptocurrency, securitized art, real estate, venture capital, and private equities. Overall, the platform offers investors the option to diversify their funds which is what makes it so attractive to its customers. It helps to meet the demands of cryptocurrency and other new and up-and-coming startups that will be on the rise for the next several years.

Alto IRA Pros and Cons

Here are some of the benefits and drawbacks of using Alto IRA.

Pros

  • Easy to Use. An Alto IRA is easy to use, and it helps its clients look at all of their options as to what to invest their money in. This helps them keep control of their money and what they have their money invested in.
  • Tax-Free Investments. With these IRA investments, clients don’t have to worry about any taxes they have on their gains until there is a distribution within their account. This means that there is no additional money needed to be paid until retirement.
  • Straightforward Pricing. With an Alto IRA, there is one fee that you have to pay. The basic plan is $10 a month and the pro plan is $25 a month. There are no additional fees other than those.

Cons

  • Alto IRA Fees. The platform’s user and account fees are higher than many of its competitors.  
  • No Stock or ETF Options. With Alto IRAs, you do not have the option to invest your money into stocks or ETS as you would with other IRAs. This limits users’ ability to diversify their portfolios to protect against risk.   

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Features of Alto IRA

Alto IRA gives its clients options when deciding how to allocate their retirement funds. This is such an important topic for so many people and they want to make sure that it is done correctly. Giving them the option to allocate funds themselves, gives clients complete control over their money and how they can choose to retire.

For an Alto IRA, there are two different options:

  1. The Traditional IRA – Is the account that gives their clients the ability to choose where their money goes and into what accounts they will be invested. This includes but is not limited to crypto options, private equity choices, venture capital funds, and crowdfunding. Some of these are not normal investments but can be with Alto. For example, if you wanted to open an Alto Roth IRA, you could with Alto.
  2. Alto Crypto IRA – This IRA collaborates with Coinbase giving their clients the ability to hold, sell, and buy crypto with their retirement funds. This is not something that is commonly offered amongst competitors which makes them different.

By offering both of these options, clients can decide how they want to grow their money and grow their wealth. This is what a lot of people look for when it comes to their investment and retirement accounts but are not able to find.

How Does Alto IRA work?

Alto IRA is designed to be easily set up and is done in four easy steps. These steps are:

  1. Creating Your Account. In this step of the process, you will be creating your account, putting in all of your personal information, and making sure everything looks good.
  2. Select Your IRA Type. For their traditional IRA route, they have options for traditional, Roth, and SEP IRAs. This gives their clients every option possible for what they need out of their retirement investment account. They also give an alternative route for their IRA with a crypto IRA which is something that more and more people are becoming interested in investing in.
  3. Fund Your Account. You can invest in your retirement account by transferring funds from an existing account or by transferring money from a bank account.
  4. Start Investing. Once your account is funded, you’ll be ready to search for assets to invest in and add to your portfolio. Alto IRA platform users have the option to choose from a large network of investment opportunities and have a wide latitude of choice in how to manage their retirement assets.

Customer Service

Alto IRA has straightforward customer service options. On their website, they offer their clients the ability to contact them via a form that they can fill out on their site. However, while it is easy to contact the platform via the website, there is no Alto IRA phone number or email that they can be reached at.

Alto IRA Reviews

According to Trustpilot, the alto IRA review received 4.4/5 stars with their clients. They are well known for being easy to use and helpful. These are two essential elements that are missing when it comes to most retirement investment companies that people are looking for within their accounts.

They also have received numerous positive reviews for their low fees and ease of access around their website. By having this available as an option to their clients, they are able to attract more clients to their site and expand their targeted audience. Their Alto Crypto IRA review also does extremely well and is ranked highly among clients.

Alto IRA Alternatives

  • Fidelity – This site is set up to offer many different options to their customers for their retirement investments. They offer IRAs including traditional and simple options. Clients have the ability to choose which ETFs and accounts to invest in but do not have the ability to self-direct those once they are in there.
  • Fundrise – This is a company that offers its clients opportunities to invest in real estate without investing in physical real estate. This is a different type of investment that can be used for retirement purposes that a lot of people do end up using. This gives their clients a different option than the traditional IRAs or stock options.
  • Robinhood – This is a company that offers its clients opportunities to self-direct their investments in certain stocks. This is a lot like an Alto IRA, but instead of it being a retirement account, it is purely just stocks. So, if you’re a little hesitant about investing in an IRA because of the retirement status on it, this may be a better option for you.

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Frequently Asked Questions (Faq)

Can you lose all your money in an IRA?

Just like any investment, you take some risk when investing in an IRA. With a self-directed IRA such as Alto, we recommend you do your own research before investing in certain funds and accounts.

Is Alto Crypto IRA legit?

The Alto Crypto IRA is legit. It offers clients the ability to invest in certain cryptocurrencies that they wouldn’t be able to invest in elsewhere. It gives uniqueness to the brand.

Is Alto IRA legit?

The Alto IRA is also legit. Just like any other IRA, it gives you the ability to invest your retirement funds into an account in which your main goal is to save for retirement.

Can a minor have an IRA account?

A minor can have an IRA account run by a custodial parent if they have earned income. They can then take over the account once they have reached the age of 18.

Parting Thoughts

Alto IRA gives investors a different option than the traditional route of their competitors such as Fidelity and Robinhood and any other retirement account. Alto IRA’s competitors currently offer more traditional investment opportunities for their IRAs; in many cases, these funds are invested in general accounts that investors have minimal visibility or control over, and a limited range of investment assets. It also enables users to invest in cryptocurrency, something that many other financial companies do not yet offer. So, if you are looking to diversify your retirement savings portfolio with a well-regarded company, Alto IRA is definitely worth considering.

Get Started With Alto IRA

Check out the Alto IRA website to see if it is the right fit for your needs.

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