Having used a $5 radio shack iron for 20+ years, last Christmas I bought myself a Hakko FX-888D.
It’s a purchase I wish I made 20 years ago - it is that much better. Heats quickly, I can adjust the temperature and the tip depending on what I’m doing, and it has a stand to hold the (hot) iron instead of it precariously balanced off the edge of the workbench.
As TPS said above, Weller also makes a great soldering iron. I must have picked the Hakko for a reason, but can’t seem to remember it. Both will be miles better than a $5 tool.
A good soldering iron and a Fluke multimeter, both expensive investments, were two of the best tool purchases I’ve made. They simplify and improve the quality of my work immensely!