If I listed the models of my first stereo and said I was glad to get rid of that junk, I would offend some who post here, as there are people who collect such things.
It was a pair of speakers, a turntable, and an integrated amplifier. Used, because I could not afford anything decent new. I later added a used tuner. Then I upgraded things, speakers, and went with a receiver that was better than the integrated amplifier and tuner. (That experience, by the way, showed me how ridiculous it is that some people have a prejudice against receivers; quality is not determined by how many boxes the equipment comes in; junk is available both separately and together, and pretty decent stuff is available separately and together. Sure, the very best is separates [separate tuner, preamp, and power amp], but not all separates are worth owning; some are a very bad deal [because they cost more in separate boxes, regardless of their level of quality] and a good receiver would be better to have.) And kept upgrading, buying used gear, and selling it when I wanted to upgrade some more. During the upgrading process, I added a cassette deck, and, later, when CDs came out, added a CD player as soon as I found a good deal on one (when they first came out, they were all over $1000, which was a lot of money back in the 1980's, and I could not afford one until the prices came down quite a bit and I got one that was a store demo that was greatly discounted). But because one of my brothers bought a CD player sooner than I did, I started buying CDs before I bought a CD player, and recorded them on cassette to listen to on my system, knowing that I would eventually get a CD player.
But, the first system I had worked, and I did derive pleasure from it, even though I was pretty constantly wishing I could afford better, and replaced each part of it as soon as I could afford better. Being a poor teenager, that is how I started buying and selling used gear, for the purpose of upgrading. If I had been rich, I would have started with something pretty good that was new. Like when the
Infinity QLS (Quantum Line Source) came out, I would have purchased those if I had been rich, with separate high power amplifiers necessary for properly driving them. But that was so far above my financial ability, that it was never a real consideration. It did show me how very far from the best my gear was, which I already had a good idea about from a brother having a system that was, for its era (circa 1970), really good. Not state of the art in 1970, but really good, far better than what most people got then. Frankly, probably better than what most people ever get since then, too.
I am really glad I have equipment now that I regard as good enough, that I have no intention of ever upgrading. If things fail, I may replace them, but I don't plan on upgrading. There is virtually always going to be something out there better than what you have, almost no matter what you have, so it is good to be satisfied at some point that is less than the best ever made. I am glad I am not the sort of person who is never satisfied no matter what. Unfortunately for me, it takes some pretty good gear to reach the point of satisfaction. It would be better to be satisfied with a very modest system, as it saves a lot of money and trouble that way.
Of course, today, there is a lot of used gear on the market that is decent, and a poor person can have something that is better than the gear I started with, for less money than I paid for my first system, even without factoring in inflation. Deals like this can be had these days:
This is a review and detailed measurements of the vintage (?) Yamaha RX-596 Receiver (stereo amplifier with tuner and video switcher). It was purchased by a member from local charity (Goodwill) for US $10 plus $18 shipping. No, that is not a typo. He did buy it for just $10. It was sold...
www.audiosciencereview.com
Where I live, most days, I could get something comparable to that off of Craigslist for $50 or so, and can find such things in thrift stores frequently, though not every day. The hardest part to get good is speakers, which has always been the case, though I have seen much better deals in the past 20 years than what one could get back 40 years ago. It is much easier to be a poor audiophile today than it was 40 years ago and before. There is a lot more used gear that is available, and much of it is not greatly valued by collectors, but does actually perform pretty well, so good deals on good sound are much easier to find.