I currently have all my Facebook pictures saved on an external hard drive, however, I plan on converting them to TIFs. This step was because I had once lost my original copies, so FB was my only option to retrieve them.
Most of my text documents are on Google docs, they are transferred to my external hard drive and drop box. My computer forces this step before they could be printed. They are converted to PDF during this stage, as that is my default reader.
I keep most of music on my phone, it is stored on my micro SD card. I don’t plan on doing much more to the ones there. My other audio files for videos are converted to WAV format on Audacity.
These steps are important because it keeps a safe copy to be accessed, and at the same time, keeps the file from deteriorating over time.