In terms of technology, sure, you can't future proof. Something better is always around the corner. But most people consider "future proofing" with respect to "can I play the latest stuff at 1080p at 60 Hz in three years?" not "will my parts still be shiny in three years?". In that respect, yes, you can. If I had a "older GPU" then it may only last until the end of this year playing the latest games at max on 1080p (for example, my old 770 SLI struggles with modern stuff on max), but if I got a 1080 ti, I'll be playing on 1080p for the next few years with plenty of VRAM and power under the hood, and since I don't care about 4k I'll have an equal experience to most other gamers that swap parts on a yearly basis to keep 4k at max. The difference being: I am at 1080p 144Hz happy with old school, the yearly swappers are at 4k 60Hz chasing the bleeding edge. Either philosophy is fine, but mine is less expensive.
One has to look at which parts "degenerate" faster than others. The GPU becomes obsolete along with HDD the fastest in terms of "performance" parts (CPU's are give and take, some have big leaps, others barely anything, get a "tock" CPU since those are the refined versions of a generation), so you want to have the GPU as the most advanced part of the rig (with a CPU that won't choke it). A CPU can hang on for a long time if you overclock, and RAM depends if there is a DDR generation change. I was actually torn between upgrading from a i5-2500k since I had it OC'd to 4.5 GHz which is nothing to sneeze at. A 4670k would be a good "modern" chip that would last a long time. Ultimately, only 16GB of RAM is really necessary, but I'd recommend a single stick of it so you can add more if needed later. The key to a "future proofed" machine is to get a crazy GPU, a CPU that doesn't bottleneck the GPU, and then everything else centred around the idea of "I can add more if I need it". Be sure you get a Gsync/freesync monitor though since something like a 1080 ti will be crushing fps in the near future and could cause screen tearing, but I suppose Vsync could take care of some of that.
As for the build posted, it looks good for the price point, but with a budget of 500 I don't think you'll be able to achieve the kind of "future proofing" you'd want. It would be fine I think for what you want to play in this current gen, but you'll quickly start seeing the processor getting strained and eventually the GPU won't be able to keep up with newer games. If you plan on upgrading down the line, I'd recommend getting an i5, 16GB of RAM, and then getting a 1070 or 60 with a bunch of VRAM (I think some AIBs are already releasing 10xx with increased VRAM.). Unfortunately, when it comes to "future proofing" there is a correlation between expense and (performance) longevity most of the time since you basically have to overkill for the current generation to "keep up" in the next gen. The hardest part of it all is *not* to wait for the "next best thing" since that puts you in the mindset of always waiting, it's better to spend more now than constantly buying new parts just to keep up, I made that error with my first build.