@clearthinker good point about vinyl listening and tailoring your expenses to what your end game interest is.
I would absolutely agree.
As far as the golden ratio of money spent in a Hifi system, I too wonder about this and still do.
I started at a 3-2-1 (speakers, amplifier, DAC) kinda mindset, rudimentary and cursory, but that's just way to simplified and I learned that early on.
Now I'd probably buy into the 1-1-2-2 (source, DAC, amplifier, speakers with or without sub's), but even that isn't a hard and fast rule.
I currently have a roughly 1-1-1-1.5-1 system (source, DAC, preamp, amp, speakers with dual sub's).
Biggest point is, there isn't an absolute and there's always exceptions. But a part of me does feel that this hobby is pulling people hard away from speakers being the "be all end all" purchase. Because as we all know you can only listen to one set of speakers, but you can add countless expensive pieces in between.
This is also a better way to separate us from our good senses and pocket books. Asking for a dollar ten times over versus 10 bucks all at once.
EtherRegen, Innuos Zenith MK3, Phoenix USB, Singxer-SU6, Molo Mola Tambaqui, Technics SU-R1000, Parasound JC1+'s, JBL L-100 75's, JL Audio Fathom 13's
I'm now looking at my reference speakers being anywhere from 10-20k. I also have a second system priced 1-1-1-1-1, everything piece costing roughly 3k.
Innuos Zen MK3, Musetec 005, Technics SU-G700 MK2, CA Azure 851w mono's, Kef LS50 meta's with dual Kube 12b subwoofers.
Don't forget headphones, headphones amps, turntables and cartridges!