Buy used. There are so many people in this hobby who are constantly upgrading, or quitting because they get frustrated, there's always good quality used equipment for sale for a fraction of the cost of new. Local reef clubs are a great resource for this. I got a 125G setup with stand, sump, skimmer, overflow box, ATO, 4 LED modules w/2 controllers, powerheads, heaters, and live rock, all for less than $1000. It's certainly not state-of-the-art, but so far it appears to contain a thriving reef ecosystem. Reef clubs are also a good place to get cheap or free livestock.
Bottom line, if you're patient and willing to wait for a good deal, this hobby can be fairly inexpensive. If you want the latest and greatest, you'll pay through the nose for it.