If you have 10 years until retirement: At 10% returns, you would have to save $4,964 per month to reach a million dollars.

Answer: You’ll have one million dollars in 39.83 years. Click here to see how your savings grow each year.

You can, however, get more than $500,000 worth of SIPC protection at the same brokerage firm by having different categories of accounts there. SIPC does not protect investors from losses due to market fluctuations or bad investment advice.

To cover each month of the year, you need to buy at least 3 different stocks. If each payment is $2000, you’ll need to invest in enough shares to earn $8,000 per year from each company. To estimate how you’ll need to invest per stock, divide $8,000 by 3%, which results in a holding value of $266,667.

They are very selective in investing, and often meet with the CEO and founders of the company before investing! Goldman Sachs, J.P. Morgan, Credit Suisse, Morgan Stanley, and most major investment houses offer prime brokerage services to hedge funds.

Most Reliable Brokerage Firms – TD Ameritrade. Everybody had heard about this firm: it’s one of the largest, most reliable and safest online brokerage companies in the U.S. and it is very well run. The total client assets at the firm are over $1.32 trillion and the firm has over 11 million funded customer accounts.

While it’s rare that a broker will literally steal his client’s money (though that does happen), typically the “theft” of investment funds comes in the form of other fraudulent violations of securities law and FINRA rules which leads to significant investment losses.

Robinhood is also a poor high-volume, real-time trading platform because it lacks the customizable charts and data of other brokerages’ sites. And as I’ve mentioned, Robinhood’s quotes are delayed, sometimes significantly so.

The SIPC insures up to $500,000 of each Robinhood customer’s account, including up to $250,000 in cash. This means that any cash balance over $250,000 in your Robinhood account would not be protected and could potentially be lost if the broker went under.

If you can do it yourself, Robinhood is great. If you can’t and want to pay someone for help, Stash and Acorns are both excellent products. But be aware that the cost comes out of your investment gains, and $1 per month in fees is a cost that adds up over time.

YES–Robinhood is absolutely safe. Your funds on Robinhood are protected up to $500,000 for securities and $250,000 for cash claims because they are a member of the SIPC. Furthermore, Robinhood is a securities brokerage and as such, securities brokerages are regulated by the Securities and Exchange Commission (SEC).

It’s not limited to only Redditors taking on risky investment moves. If you do some proper research, Robinhood can, at the very least, serve as a good introduction to investing. But no matter how savvy you are at picking stocks, you’re highly unlikely to beat the market over the long term.

‘Thinkorswim’ is designed for traders, especially options traders. The ‘thinkorswim’ platform is available both on iOS and Android….What are trading apps great for?

• Best for Mobile Apps: TD Ameritrade. TD Ameritrade offers both iPhone and Android apps for enhanced day trading.
• Best for Execution: E*TRADE.
• Best for Beginners: Robinhood.
• Best for Active Traders: Webull.
• Best for Novice Traders: Moomoo.
• Best for Advanced Traders: TradeStation.
• Best for Algo Traders: Zen Trading Strategies.