What is your sharpening experience and sharpening tools?
What will you be cutting on?
------------
$500 budget?
I'd get a quality Japanese chef's knife (gyuto) and paring knife. These two will handle 90% of your tasks.
A King Combination water-stone and a garage sale high carbon knife (Chicago Cutlery, Forgecraft, etc.) to practice sharpening on.
An end grain cutting board which will be kind to the high hardness, thin edged Jap knives.
Cut like a boss.
Done.
