Take heart! Depends what the wood is. I have Locust posts that are still good after 33 years in the ground. I have a split rail fence. True, I have had to replace about 5 posts in those 33 years due to rot. 5 posts out of 30. Not bad.
It is a time-consuming event to dig out the old post. Takes me about 4 hours total for one post. Dig for 30 minutes, take break until tomorrow.
The rails are another story. I don't know what the original rails were made of, probably pine. I have already had to replace about half of the rails due to rot.
But now when I replace a rail, I give the new rail it 2 coats of Olympic wood sealer, which has so far worked well, it seems, to keep moisture out.
The rails used to be $7.99 each, but now have inflated to $13.99 each!