Retirement: Will files be deleted?

Two years ago I retired from 30 years as a graphic designer but kept my Creative Cloud subscription in case a client asked for changes to their files, or needed them for some other reason. Now, I have decided not to renew my subscription.

All of my client's files are stored on my computer. Because of that, am I correct in thinking that I will have them as long as needed and if I do need access to them, all I have to do is subscribe again, probably on a month-to-month basis?

Also, do I understand correctly, that if my client's files had been stored on the cloud, 30 days after my subscription ended I would be limited to 2GB storage and would lose anything over that limit?