A:Answer I would (and am) wait, wait, wait on getting a newer gpu, but yes, you should have no problem with that setup and a 550 watt PS. I estimate that your actual maximum power draw with both CPU & GPU (gpu is actually 180W max, not the crazy spec listed here) at 100% load will be 400 watts or less (depending on ancillary loads like physical drives, coolers, etc). I have a new 3800x with an older 1060 gpu (120W max gpu) and have actual measurements of only around 340 watts max at max simultaneous loading for both CPU & GPU. Yeah, the 3800x is kind of a power hog for the performance. I have three other older desktops with 1060 gpus and just reused one of the 1060s to put into my new 3800x build. Working just fine. Yeah, once the prices come back down to more normal levels I'm going to get a new gpu and ps, but going to wait until I can get the best bang for my $$.
Good luck to you either way. This is the fun stuff!!!