I understand that it is better for the longevity of the drive to just keep my computer running 24/7, is that correct?

All modern OSes will put the drive to sleep after a certain period of time, so leaving the computer running will not be advantageous for the life of the drive.

In addition, today's drives are specified for 50,000 start-stop cycles, so even a drive that goes to sleep 20 times a day has an expected lifespan of close to 10 years (based on a five day working week).

As such, there is no reason to NOT switch off your computer when you don't need it; it will also save quite a bit of money on your electricity bill.