GIRL NEWBIE

I am no audiophile but do live and love good music including playing the old Vinyl LP's.I am an expert on bargains and believe anyone can find something within their budget with enough research.
The advice about newer receivers is correct because you have to have a seperate preamp for your turntable and you loose some qualty especially compared to a Vintage or New Tube Amplifier.So, back to business how can I help:
The older receivers from Pioneer,Morantz,Fisher,Mcintosh, etc., are available for a reasonable price and while not as qualty as some, do sound great and are affordable.
As for Speakers I think I would rather have a mediocre amp and great speakers than vice-versa.
So again,Pioneer,JBL.Klipsch,Advent,Jenson,CerwinVega,Boston Accoustics and the list can go on and on as they are all good choices.
Now for the purchase, many online stores have vintage audio for sale at reasonable prices and you know what you are getting so just do a google search for vintage audio and read thru the ads then go to ebay and craigslist and compare or even garage sales, flea markets, and local sales papers.
just a quick search here brought up :Tannoy Speakers $300.00 I am sure these are nice sounding, Tannoy is a very good brand

http://buy.audiogon.com/cgia/cls.pl?spkrfull&1203149160

and this receiver:A Marantz for $165

http://buy.audiogon.com/cgia/cls.pl?miscrcvr&1203354923

I am not a party to either sale, just trying to help
Cheers and enjoy your records when you get your system setup and playing

This is what I would do in your situation. I'd look first for a excellent spk. Right now "Full Compass" is closing-out their KRIX loudspeakers. I highly suggest you give these spks. some serious thought. I own the Apex 3 and just ordered the small Equinox's. These are excellent spks. at give away prices. Tannoy also makes some exc. loudspeakers as well. I'd look at a vintage Receiver or Int. amp to drive the spks. This will meet you needs very well and stay under your budget. In the future you can upgrade to the likes of a Rega Brio 3 Int. amp and your system would sound magical.

"...my budget is between $500-$550...any ideas??"

Yes. Save your money.

I don't mean to come across flip but I firmly believe that if you buy a system (speakers, receiver, cables, etc.) for $500 it'll be a waste of money, especially if you're goal is to build an audiophile system as you mentioned. It's just a bad strategy for building a system and you won't get much out of it.

Either save your money until you can buy a good system or, just buy one component at a time and keep buying and selling your way up while putting in additional cash. The key to the latter is to buy something of quality at a good price that you can sell for at least what you paid for it assuming you take the time and do your homework so you know a good deal when it comes along. And, trust me, they do. But it has to be something of quality or, it's going to be hard to sell.

If you all you have to spend is $500 and that system will have to last for a few years; get a Bellari which is a tube phono stage/headphone amp and a pair of used Sennheiser 650 headphones. You should get better sound than you do today and you have your money in only two components of decent quality that don't depreciate that quickly.

MY best advice is to take your time --listen at some high end stores to get a feel for the differnces --don't allow any audio snobs to hassle you--save some money --you will find you can afford more than you think and an extra 100-200 dolars will be a small price for musical enjoyment --there are int amps from 200-500- that are pretty good to start as well as speakers in the same range either monitors or full range --nht- or triangle speakers aren't bad for the money and nad as well for int amps --just so you know my first real amp cost $300 and I had buyers remorse til I listened to it and haven't turned back since welcome to this crazy hobby any ?? email --Rich

NAD 3020 integrated amplifer will come in under $200, includes a pretty good phono stage to boot (but no remote control). B&W DM302 or 303 speakers (preference for the 302's) also under $200, leaves you a few bucks for speaker stands and some decent speaker wire. Welcome to the hobby, Jeff