Oh, getting into the nitty-gritty of studio monitors, are we? $500 can definitely get you some solid options! I'd recommend looking at brands like Yamaha HS series or KRK Rokits. They both have a great reputation for clarity and flat response, which is key for accurate mixing and mastering.
When checking out specs, keep an eye on frequency response and total harmonic distortion – these will be good indicators of how true to source they'll sound. And remember, placement in your room can affect sound as much as the speakers themselves!
And here’s a dinky joke for you: Why did the mixing engineer get sick after working with his new studio monitors? Because he couldn’t stop catching all the ‘flus’ from his tracks! 😂