maybe save up for ps5 slim digital, you can add disc drive later.

i waited 3 years baru bought the ps5. my old ps4 disc drive rosak, and jet engine liao if play God of war.

if you are fine without playstation exclusive, you can get Xbox series S and Game pass. I've use it for over a year, i like it.

if you have kids, can get the oled nintendo switch.

in terms of backward compatibility, ps5 can play most of your ps4 library of games.

but for series s/x it can play all of the xbox one, xbox 360 or some old 1st gen xbox game.

for switch, don't expect their game on sale digitally. better buy used copy if you're in tight budget. and their backward compatibility is non existence in Switch. my OG switch is sitting collecting dust right now. only turn on if there's a good AAA game comes out.

those are launch date not lifespan...
as for PS4 after nearly 10 years but still going strong, i'd say give or take 2025 or 26 before it discontinued.

but then by now you'd rather get the ps5 than the ps4.