re: Say your brokerage collapses, you still have your stock right?

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I don’t think that’s a foregone conclusion for any account north of $250k assuming your brokerage is a member of the FDIC.

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Brokerage accounts are typically covered by SIPC up to $500k including $250k in cash. However it’s actually safer than that since the account holder owns the securities, and they still own them even if the brokerage fails. So really the only reason one would have to be concerned is if the brokerage was fraudulently recording purchase and sales of the securities for the customers, but wasn’t actually buying or selling them.

Even then, I believe each account at a brokerage get separate coverage. So for example, you could have an individual taxable account, an IRA, joint account with your wife, your wife has her individual accounts, etc. and each would have coverage up to $500k with a single brokerage.

So theoretically, a typical couple could have as many as 9 accounts with a brokerage (each with an individual taxable, IRA, and Roth plus a joint of all 3). That seems overboard but it is possible. And I guess theoretically you could have a SEP-IRA or a solo401k, so even more than those other 3.