Pretty much as Grant Bennet-Alder says. I would add one concept to the advice of the other gurus here. A current, properly maintained and updated Time Machine Backup. Assume your device will fail, and plan for how you will recover. Don't forget, depending how you assess the risks and potential loss that might also include an off-site storage either in the Cloud, or as a physical backup rotated out to a different location.
In my experience the probability of a SSD storage failing is extremely low to the point it almost becomes impossible to predict. If they survive initial production testing they will (with care) usually be good for many years. The risk of any individual critical component in any Apple MacBook failing within its support lifetime and not being repairable is also very low. Even to the point that your new SSD did fail, and considering they are soldered to the logic board it would be possible to get the logic board replaced. If the device is no longer supported and spares not available it is probably so old there will be other parts on the point of old age, and it would be more economic to consider replacement. Whichever route at this time a backup will get you out of trouble.
The much greater risk is for something Very Bad to happen to the whole MacBook, whether that is catastrophic physical damage like a fire or flood, allowed to descend the stairs on its own, theft, or any of the other risks of day to day life. You can recover from this only if you have deployed a proper backup strategy designed around your needs.