Question Hot wallet vs cold wallet


I come to you with a question.
I placed the ledger nano x order. While the order is on the way, I'm still interested in cold wallets vs hot wallets.
I have a hypothetical situation for which I want to ask your opinion.
I still have a modest crypto portfolio. I only invest what I can afford to lose, and I only invest in projects that have a utility. Through research I found out that it is not ok to keep the funds in an exchange unless you want to do trading. I'm here for the long term, so I accumulate and keep until the next bull market.
I turned to wallets.
I had several attempts and the best solution was like this:
A hot wallet, ex: coinbase wallet.
I write the 24 words on paper or something completely offline, transfer funds to the wallet and then disconnect from the wallet until I add or withdraw funds from the wallet. In this way, if the phone is lost, stolen or even compromised, the wallet is not on the phone and if someone tries to access the funds, they cannot because they do not have access to my piece of paper.
Is it correct so far? If not, what did I miss? If so, why should I buy a cold wallet like ledger?
It is relevant to say that I will access the wallet only from my personal phone, Apple iPhone and not from the browser.
I look forward to your opinions.