Use a hardware wallet for funds that exceed your daily expenses. All other wallets put your funds in danger of total loss
Even if you use hardware wallet there's no guarantee that your funds won't be in danger, such as when your hardware wallet is broken or have some bug. Paper wallet is safer than hardware wallet as long as you can back up correctly. If you don't use Bitcoin daily and wanted to store it for years then paper wallet is more appropriate to choose imo. So yeah, it's back to taste and more importantly how careful people can back up the seeds/private key.