In my case, I have several baskets of eggs. :-) I use two Time Machine backup volumes on different external SSDs. One is the "normal" Time Machine backup. The other, I connect each morning to make a backup and then disconnect. I would be out of luck if there were 3 failures at the same time (internal SSD, always connected SSD, and connected once-per-day SSD).
BTW, important data volumes on the external SSDs themselves are copied (usually daily) to the internal SSD as disk images. The disk images are not further backed-up to Time Machine.
I also use Finder tags to gather together other important folders which I copy to iCloud Drive (usually once per week).
- Pie Lover