Retirement accounts have real, specific legal protections, though they differ by account type. Employer-sponsored plans like 401(k)s are protected from most creditors under ERISA. IRAs aren’t covered by ERISA the same way, but federal bankruptcy law (under the 2005 BAPCPA amendments) protects IRA funds up to an inflation-adjusted limit — over $1.5 million as of the most recent adjustment — in a bankruptcy proceeding. The Pension Benefit Guaranty Corporation (PBGC) insures traditional defined-benefit pensions if a plan fails, but PBGC does not cover IRAs or 401(k)s at all.

‘Wall Street access’ is a vague framing — brokerages holding your IRA assets don’t have discretion to seize them, and SIPC provides limited protection against brokerage failure (not investment losses). The realistic risks to an IRA are market volatility and your own investment choices, not a third party reaching in to take the account.