Recently, I was asked again, "Hardware wallets, multi-signature, social recovery— which one should I choose?"

I usually don't start with the technical details; I first ask if you can handle the heartbeat of "keys lost / people gone / device broken."
For small amounts and convenience, a hardware wallet is enough; just don't keep photos of your seed phrase on cloud storage.
If your assets grow a bit and you don't want to rely on luck with single points, multi-signature is more reliable, but daily transfers can be troublesome, and with more signing steps, people tend to get lazy.
I think social recovery is suitable for those who don't want to manage a bunch of seed words, but the trust in "friends/organizations" needs to be carefully considered—otherwise, it might be more uncomfortable than being caught in a trap.
NFT royalties are also quite similar in the ongoing debates: on one side, wanting control; on the other, fearing liquidity drying up.
Anyway, my biggest fear isn't losing money; it's losing control—losing money is at least a decision I made myself, but losing control can't even be reproduced.
That's all for now.