It's a new year, the best time yet to start investing. After all, compounding does its best work late. The sooner you start, the more wealth you'll build over time.

One of my favorite aspects of investing is that the stock market doesn't discriminate. You can prosper whether you're already well-off or starting with just $500. Everyone can benefit from owning stocks.

Putting pen to paper -- deciding which stocks to own (with thousands to choose from) can be the hardest part of the process. This list is a great reference for those looking for a starting point. Here are five great stocks you can confidently buy for the long term...and $500 will get you at least one share of every stock.

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Source Fool.com