There is an evolution going on. It started with a CD Player and will end with streaming. We are far enough along that there are high end solutions for the each end of the spectrum and anywhere in between. Solutions exist at most price points $1,000 -> $100,000. I have 2,000 CDs collecting dust.
So the evolution has been: CD Player, Rip disks (relocate files) to a hard drive, purchase high Rez versions on line, save on a network drive, then stream from internet server service (Qobuz). If asking this question now, I would not waste the time or money on the intermediate steps and just focus on streaming. I spent hundreds of hours ripping disks and on storage. Now the best digital sound comes from Qobuz streaming ($14.99/ month) and other services… most audiophiles prefer Qobuz). If I want to listen to a CD I own, I just stream it from Qobuz.
In general, it is going to cost about the same, say maybe 10% - 15% more for streaming, but it is going to save you a lot of money not pursuing intermediate steps. It will give you access to the world of music… almost anything you can think of and worlds you have not. It is going to be a similar amount of work choosing equipment and making sure it is compatible.
Streaming requires a good Streamer, and DAC (a CD player is a physical transport, a streamer, and DAC in one box). You can use a PC for streaming, but if you want to get to true high end you need a real stand alone streamer, something built from the ground up as a streamer (think Aurender or Auralic). They come with storage and without. I haven’t used my storage for over six months.
