Halachah. It is not enough to learn gemara, rashi, and tosafos; one must also learn the sifrei haposkim in order to know what to do and how to conduct himself based on the Torah and Shulchan Aruch (דרישה סי' רמ"ו סק"ד הובא בט"ז שם סק"ד ובש"ך סק"ה ).
The main halachos one must learn are the most commonly applied ones, i.e., orach chaim, and select halachos in the other sections of Shulchan Aruch which everyone must know (שו"ע הרב פ"ב ס"ט וערוה"ש סי"ז ).
If someone insists on only learning gemara without the final halachah, they should not be dissuaded if that may cause them to stop learning altogether, since all words of Torah restore the soul and bring pure yiras Hashem (ערוה"ש סי"ז ).
Mussar. One is obligated to learn mussar every day (ארי ז"ל והגר"א הובאו במ"ב סי' תר"ג סק"ב ) and to set aside time – whether a little or a lot – for this (ברכי יוסף וח"א הובאו במ"ב סי' א' סקי"ב ). This chiyuv precedes learning mishnayos (שעה"צ שם סקכ"ו ).
