The SMS point is part of why moving to FIDO keys is a good idea - the NFC enabled ones work with modern smartphones and allow you to login. As for lost luggage

The SMS point is part of why moving to FIDO keys is a good idea - the NFC enabled ones work with modern smartphones and allow you to login. As for lost luggage, I carry mine on my keychain, another one in the laptop itself (USB-C Yubikey) and one in my safe at home - if all three are ever destroyed or lost I also have backup codes available as password protected notes on several devices.