RAW files are normally very large, so most photographers don’t store their photos locally and instead use external storage. The speed of this storage is the most common cause of Lightroom slowing down (and has nothing to do with the internal components of your computer). When Lightroom needs to render an image, it has to go to where it is stored on the external device and read the photo into short term memory on your computer. If your external storage is too slow, that’s going to slow down Lightroom’s performance no matter what kind of computer you’re using.
There are a few things you can try to see if the hard drive is the problem. First, if you have an SSD internal on your computer, try moving a few of the RAW files onto your local hard drive and editing them on Lightroom from there. If the performance is substantially better, there’s a good chance it’s the external drive slowing things down. If you don’t already have an external SSD, it may be worthwhile investing in one anyway and you can see if that improves performance.
If you suspect the hard drive may be the issue, the solution is as simple as buying a better external drive. There are two factors that will determine how well your hard drive speeds up performance. The first is the read and write speed of the hard drive itself. The major determinant of this is the storage type. Basically, SSDs are substantially faster than HDDs. That said, there is significance of within-type variance, so make sure to check the specs of the drive you’re buying.
The second factor is the connection type. It doesn’t do you much good to get a super fast SSD and then connect it to your computer via USB-2. Make sure that your drive has a connection type that can support the speed you’re looking for. My personal favorite is a NAS. It’s a bit of an investment upfront, but well worthwhile. Look for an upcoming blog on the advantages of a NAS and how to shop for one.