Tesseract has answered a far LARGER question than most Mac users are facing.
if your Home network includes a Server that is providing services to the Internet, answering queries from other Users on the Internet at large or allowing SSH connections for other Internet users, that answer is spot-on.
If you are NOT providing such services, I suggest these slightly more practical guidelines instead:
if you are behind a Router you control, and enable a Wi-Fi password, your over-the-air messages to your Router are encrypted.
Network Address Translation:
Your Router 'acts as your agent' on the Internet at large, and your local IP address is never sent off your own local network. Your Router ALSO has a built in state-wise firewall, and typical Medium settings will cause it to discard any unsolicited incoming requests. Only answers to your DIRECT queries are allowed in. The combination means your Mac is Un-reachable for unsolicited communication from the Internet at large.
As long as you are using your own Router, there is no need to activate the Mac firewall. On public Wi-Fi, at the Airport or coffee shop, then maybe the Mac firewall would be a good idea.
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A VPN you install yourself does NOT add security. Instead, it sends all your network traffic to a third party site for data harvesting. Your encrypted web site connections USUALLY remain private, but which sites you chose and when do not. One VPN provider recently had to pay a large fine for data harvesting without users' consent.
[Institutional VPN allows you to be “present” on an Institutions Network. Its use is a different matter, and will be managed and supported by your Institution if required (without data harvesting) .]