That's not a problem either, you keep a 24-word seed phrase as a backup. That's what goes in your deep cold storage. This has been well-known basic practice for

That's not a problem either, you keep a 24-word seed phrase as a backup. That's what goes in your deep cold storage. This has been well-known basic practice for years now. An emerging option is social recovery, as advocated by Vitalik. There are phone wallets now that let you have, say, 3 of 5 recovery, where the five are trusted friends/family or even a business or two.