Conventional / "best practices" location for personal functions

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Is there a conventional / standard / "best practices" location for parking self-developed functions, such that they are globally available from the command prompt (i.e. independent of current working directory)? I initially thought about $MATLABROOT/toolbox/local, but that contains exclusively TMW-provided scripts and text files. Moreover, as explained by John D'Errico in this old thread, there are potential issues with path caching at startup for anything placed inside $MATLABROOT.
(To be clear, I'm interested in where, rather than how. Either path or pathtool can be used to do the latter.)
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AMM
AMM on 3 Jun 2020
dbp, Stephen—thanks both.
I accepted the one from Image Analyst because that was the only one I could (everything else here is posted as a comment), but the consensus among you is pretty clear. Cheers. -AMM

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Accepted Answer

Image Analyst
Image Analyst on 22 May 2020
I do just like dpb says. The Mathworks told me to have a work folder, and all my various 200+ projects have subfolders under work. In addition, I have one folder there called Utilities that has a bunch of useful functions that I use all the time in other programs. I set a path to it in my startup.m file.

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