You do not need a huge amount of money to start investing.
Even $500 can be enough to begin building long-term wealth on the ASX.
The key is to keep things simple. With a smaller amount, investors can either choose a broad exchange traded fund (ETF) or start building positions in high-quality ASX shares over time.
Here are three options that could be worth considering.
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iShares S&P 500 ETF (ASX: IVV)
The first option to look at is the iShares S&P 500 ETF.
This fund gives investors exposure to 500 of the largest listed companies in the United States.
That includes many of the world's strongest businesses across technology, healthcare, finance, consumer goods, communication services, and industrials.
For someone investing $500, this can be a simple way to gain global exposure straight away.
The US share market has been home to many great long-term compounders, and this ETF gives investors access to that market without needing to choose individual shares.
If I were investing my first $500, this would be one of the top options on my list.
Pro Medicus Ltd (ASX: PME)
Another option is Pro Medicus. This healthcare technology company provides medical imaging software to hospitals and radiology groups.
Its Visage platform helps doctors and specialists view, manage, and interpret large volumes of medical images quickly and efficiently.
That may sound like a niche area, but it is an important part of modern healthcare.
Hospitals are producing more imaging data than ever, and they need systems that can handle that complexity without slowing clinicians down. This has worked in Pro Medicus' favour, with the company consistently winning major contracts with large health networks overseas.
Its shares can be volatile because the company often trades on high expectations. However, for investors with a long-term view, Pro Medicus could be a great buy and hold pick.
Wesfarmers Ltd (ASX: WES)
A third option to consider is Wesfarmers. It is one of Australia's highest-quality blue-chip companies, owning a collection of well-known businesses, including Bunnings, Kmart, Officeworks, and its chemicals, energy and fertilisers operations.
That gives the company a diversified earnings base across retail and industrial markets.
Bunnings remains one of the strongest retail franchises in Australia, while Kmart has built a powerful position in value-focused retail.
Wesfarmers also has a long track record of disciplined capital allocation, with a willingness to invest in growth, reshape the portfolio, and return capital to shareholders when appropriate.
For investors using $500 to start building a portfolio, Wesfarmers could be a high-quality individual share to consider.
