What is the current retail cost of your reference system?

I started from scratch two years ago because the system that I bought 45 years ago was stolen within the first year after I bought it. Raising a family and mortgage payments and everything else I didn’t bother to try again until two years ago. With the intent of spending about $10,000 for a modest system, $40,000 later I am almost done! I am expecting their best audio sensibility speaker cables later today. I spent three times what my 1977 system cost on cables alone, including power cables and interconnects. That early system consisted of a pioneer amplifier/receiver, and Bose 901 series 2 speakers and a modest TT. It sounded pretty darn good then, but my ears were 45 years younger. So the answer to your question is, you can spend as much money as you want to spend on a stereo system, depending on your tolerance for spending and what you are trying to accomplish. You can do digital or analog for much less the trying to do both in hq. With so many improvements in materials and technology I’m sure pretty sure that today you can put a pretty darn good system together for $10,000 for a modest size room. Wish now I had stuck to my original budget and bought an “all-in-one” unit and hq book shelf speakers. However it does sound good to my ears. Weak link may be the speakers. If the new cables don’t blow me away, I may sell speakers and upgrade. My system:

Pass Int 60 - 9k

Innuos Zenith MK3 - 6k

Innuous Phoenix USB - 3.5k

Ayre QB 9 twenty - 3k

VPI Classic with Transfiguration Axia - 6k

Parasound JC 3+ - 3k

Volti Razz - 6k

Furman - 1k

Speaker cables and interconnects - 6k

Good luck in your quest!

@dadork was there an argument in there?

yeah, in fewer words, what @sns said

I have read this thread and thought carefully about my answer. 

Here it is. Not Enough. I do buy the occasional lottery ticket. 

hysteve,

My history tracks somewhat the same as yours

both in the original and the new. Funny how these things work

sometimes.

The more interesting thing is comparing where people did and did not allocate money. Few mentioned the room. Everyone must have at least some absorbing panels. Many have dedicated power lines. Those are audiophile costs.

If you have $10k or more in a system and nothing in the room you have erred.

Nobody is counting the offset costs. What are those? You spend $5k on some audio item and that means the spouse spends $5k on something they want. Now that can jump things up in a hurry.

Music acquisition. About $27/month for Roon + Qobuz.  I do not have vinyl.

so not buying any pricey LPs. 

What other hidden costs of audio?  Travel to shows.  Extra ear exams? 

Custom ear protection?  Better car system?  Office system?

What's your time worth? Watching youtubes, reading reviews, tweaking a system?

Zoom meetings. 

I think I will quit now.