Before upgrading your 24-inch iMac running macOS 26.7, make a complete Time Machine backup to an external drive. This does not require iCloud.
Connect an external USB hard drive or SSD with sufficient capacity. Open
Apple menu >> System Settings >> General >> Time Machine, select Add Backup Disk, choose your drive, and follow the instructions. Allow the initial backup to finish, then verify the latest successful backup date. If the drive contains files you need, copy them elsewhere before setting it up, as formatting may erase its contents.
Apple instructions: Back up your Mac with Time Machine.
If macOS starts after an unsuccessful upgrade, use Applications >> Utilities >> Migration Assistant to transfer your files, applications and user account information from the Time Machine backup.
To recover individual deleted files, you may be able to use Time Machine to locate and restore an earlier version.
See Apple's guides: Restore deleted files and Restore your Mac from a backup.
If your iMac cannot start, shut it down and press and hold the power button until Loading startup options appears.
Select Options >> Continue to enter macOS Recovery.
If necessary, try reinstalling macOS without erasing the internal drive. Once macOS is working, use Migration Assistant to recover your data.
Erasing the drive should be a last resort, after confirming that your backup is accessible.
Apple instructions: Reinstall macOS and Use macOS Recovery on an Apple silicon Mac.
Once the backup is complete and verified, disconnect the external drive before upgrading and keep it safe until you have confirmed that the iMac works correctly.
For future protection of irreplaceable data, consider maintaining a current 3-2-1 backup plan: three copies of your data, stored using two different types of storage or backup methods, with at least one copy kept off-site to protect against natural disasters, theft or other unexpected events. Use dedicated external drives for backup purposes, and check periodically that your backups remain accessible.
Time Machine is a useful part of this strategy, but an additional backup method can provide another layer of protection. Bombich Software, the developer of Carbon Copy Cloner, offers a complementary backup solution. See its guide How to schedule a backup
Important: Time Machine does not provide a complete bootable copy of macOS.
If an upgrade prevents your iMac from starting, you may need to reinstall macOS before restoring your files and settings.