I think you will eventually want a 7wt or 8wt to target the fish you have in mind. But, you have a great starter rod. If you have LM and SM bass, you also have bluegill, crappie, or other panfish around, right? Get some size 6 to 8 poppers, damsel fly nymphs, streamers, and learn to cast your rod and, I promise, you will enjoy yourself. After you get comfortable with tippets, leaders, basic knots, basic casting, then you will have an idea of what type of 7 or 8 wt you may like. Play with the 5wt for a few months, dont be in a rush, enjoy the learning process. Best advise: ** take some casting lessons, learn basic casting and then how to double haul. That will pay off for you in improving your abilities and enjoyment.
"Fishermen are born honest, but they get over it"
Ed Zern