In theory it is better to keep your HiFi switched on at all times. The procedure of switching on and off, and the following warming up and cooling down of electrical equipment may shorten its lifespan, but, imho, not that much. i've had hifi equipment that has been switched on and of for about 17 years, and it still work. It still is electrical equipment your talking about, so it might die any day, regardless of the cause. Personally, I think dust is the no. 1 killer when it comes to electronic equipment, I would worry less about switching it on or off to be frank.
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