Hello!
Based on your stated use of the iMac:
I have a very basic configuration, nothing out of the ordinary. I use mostly my computer for web browsing, office work, photos storage and editing.
An external SSD, even on your older iMac, WILL improve performance!
As Allan Jones said, your iMac only has USB 2.0 ports, and while an external SSD connected through these ports will still dramatically help performance due to the low seek and latency time of an SSD, you can have even better performance by using a FireWire 800 external SSD. Data transfer rates will be approximately the same as your internal disk, but as I mentioned earlier, you'll substantially improve the performance of app launch and load times due to the low seek and latency time of an SSD, which USB 2 can support for basic tasks. This means app launch, opening documents, and browsing files will all happen quicker. I run an iMac (27-inch, Late 2009) with an external USB SSD, and it makes a HUGE difference when compared to the internal hard disk, which is still reported as being healthy. System apps launch in just a "bounce" or two on the dock, and navigating within macOS is snappy.
If you choose to go the FireWire route, since FireWire 800 is an older technology, your only choice for a drive now is the OWC Mercury On-The-Go Pro SSD - OWC. You'll also need an OWC Power Adapter for Mercury On-The-Go - OWC.
However, the selection of FireWire SSDs can be pricey for the older technology. If you do not often transfer large amounts of data (5GB+) to your startup disk, and simply use your iMac for light tasks (web-browsing, office work, and light photo work), a USB SSD will work just fine. My old 2009 iMac is simply used for web-browsing, and a USB SSD is perfect for this application. Plus, you can get larger capacities for less in a USB SSD. For example, a Crucial X8 1TB Portable SSD - Crucial would be more than capable for your older iMac. You may also benefit from the upgrade of 500 GB to 1 TB since you stated you only have 30 GB free.
Regardless, if you go this route, below are the external SSD setup steps for your older model.
Connect & Erase
To start, connect your external SSD to a USB port on your Mac. Next, you need to erase and reformat your external SSD. Open Disk Utility (located in Applications > Utilities), and within Disk Utility, select View > Show All Devices. Select the external SSD entry at the top of the list (its name will also end in "Media").
Click Erase, and make sure the name, format, and scheme are as follows:
- Name: Macintosh HD
- Format: Mac OS Extended (Journaled)
- Scheme: GUID Partition Map
Click erase. After a few moments, you should see a new Macintosh HD volume on your external SSD.
Install macOS
After erasing, you can install macOS on your external SSD. Make sure to download the latest compatible version of macOS for your Mac, macOS High Sierra: How to download macOS - Apple Support.
When the installer opens and you're asked to choose where to install, click Show All Disks, then select the new external SSD before continuing the install.
When your Mac restarts to the external SSD, follow the prompts in Setup Assistant. When asked how you want to transfer your information, select the option to transfer from a Mac, Time Machine backup, or startup disk. Then click Continue. Select your Time Machine backup or internal hard disk, then click Continue. Continue to follow the steps to restore. Large transfers might need several hours to complete.
After Migration
After Migration, change your startup disk to set the external SSD as the default startup disk.
- On your Mac, choose Apple menu > System Preferences, then click Startup Disk.
- If the lock at the bottom left is locked, click it to unlock the preference pane.
- Click the icon of the disk you want to use, then click Restart.
Additionally, after Migration, you may need to configure certain settings again, such as Time Machine.
About the internal disk
After a successful setup and Migration to the external SSD, you can erase* the internal disk. Open Disk Utility (located in Applications > Utilities), and within Disk Utility, select View > Show All Devices. Select the top-entry, click Erase, and make sure the format and scheme are as follows:
- Format: Mac OS Extended (Journaled)
- Scheme: GUID Partition Map
Click Erase. After a few moments, you should see a new, empty volume on your internal disk.
*- If you plan to leave the internal disk as-is with macOS on it, exclude the internal disk from Spotlight indexing: Change Spotlight preferences on Mac - Apple Support. Additionally, rename the internal disk to a name other than Macintosh HD.
Jack