I was fortunate in that I was a belated convert from film to digital and the first version of Lightroom was introduced at the same time as I bought my first dSLR camera. As Lightroom used terminology and processes that were fairly intuitive to a photographer (rather than the inane nerd-speak of other packages), I opted for it.
Now, all those years later, it is still the "hub" of all my photo-processing and all other processing software is accessed from within Lightroom.
The set-up that suits me is:
I have LR and other applications software on an internal hard drive.
I have numerous external 2Tb hard drives, mainly for back-ups, but of which two (plus their back-up drives) are dedicated to photographic files
G: is my Raw File Repository. Whenever I download Raw files from my card reader to my PC, Lightroom does it by copying the files from the card to G: using date of capture folders and, simultaneously, importing the files to the Lightroom catalogue.
H: is my Processed Image Library. Mostly I print direct from the processed Raws using Lightroom's Print Module but, if I require a Jpeg or Tiff for some other purpose, such as a PDI competition or International Salon, then I export the processed file from Lightroom into an appropriately named folder on H:. I also have a few other folders on H: for things such as "laboratory" images or image components, AV sequences, etc.
When G: is full (with my 45Mb D800 Raws it may only be another couple of years), I will simply add another external drive, for the sake of argument - M: Raw files from 1/1/16. Lightroom's catalogue will deal easily and simply with an extension to the system of that type.
As I say, it suits my purposes and has the advantage of being exceedingly simple.