stock plugins for mixing

Someone advised me to have these stock plugins enabled while mixing. I would get your input as well.

1. EQ 7 band

2. Compressor

3. BF76 Peak Limiter

4. Stereo Width

Is that all I need?

I also have been told that I should have an Aux track as a Sub Mix routed to the main Master Fader.

I've seen some mix without this.

Just was curious if there is a right or wrong way to mix.