I lucked into good deals on decent gear while still in high school. I bought a guild pilot bass, and a Kramer focus 2000 guitar. $550 for the pair, both new. I traded up when I was in my early 20s to a (pre-Gibson) Tobias bass (bass is my primary instrument) and traded down in the same deal to a 1960s silvertone guitar. I still own those instruments now in my mid 50s.
I played them both for almost 20 years. Gigged, recorded, toured. They served me well. No revolving door of gear then.
But music is a hobby for me. I’m in my mid fifties, high income and no kids. My partner also has a high income. We can buy toys. We’ve both gotten good careers, lived responsibly, built our earning power, and have no children. I love that I don’t have to sneak new guitars into the house. She likes to see them. We don’t generally spend on exorbitant treats, so a few guitars or basses here and there are really affordable for me.
The important part was getting instruments I could really use and sticking g with it until the money was there to do otherwise.