The shield does not apply its effect unless you’re wielding it. The armor does not apply its effect while you’re offline.
If you’re in a cold region, use fireplaces inside your base to keep you warm.
As @mynotaure already pointed out, leave enough space around your bed to respawn. To that, I would add the advice to always check where you will be respawning by pulling off your bracelet after you’ve placed the bed.
It’s also a good idea to log out naked, as @Sestud pointed out, by putting all your valuables in a chest and/or a fridge (if you’re carrying perishables, like food, with you). That way, if anything kills you while you’re logged out, you won’t lose your gear.
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