I have $500 to upgrade my gaming pc need some suggestions

[DangerSteve]

I really only use my pc for gaming and the occasional stream and am wondering how I could upgrade my pc for the best possible performance in games . $500 to spend
current specs
Ryzen 5 3600 stock cooler
Msi b550 tomahawk motherboard
16gb 3200mhz
120gbssd
1tbhdd

 

[Boon72]

a recent AMD 6800 or Nvidia 3070 graphics card should be around that budget