Ok, well, first off, no need to shout it in all caps. It's not like you've now got a disease, nor have you won the lotto.
As for 'what it means', '5th generation jewish' isn't a real thing. That you are 1/32nd of Jewish descent means only what you want it to, unless it was straight up the maternal line, in which case it MIGHT mean something, but doubtful. Since it's not, in your case, it's just proof that Genealogy teaches us great things about our heritage and often unexpected things as well. Things for you to look for in terms of your family history are 'where were they from, and why did they come to America?' (I assume you're in the USA.) There are a few divisions of Judaism, by geography and by religious divisions - the major geographic divisions are:Asheknazi and Sephardic, and the Religious ones are 'Orthodox, Conservative, and Reform'. There are more, but they are either smaller and mroe geographically unique or more recent ethical divisions.
Have fun with the research, and enjoy learning about that ancestor. Don't expect to get back too many more generations, though, because Jewish records rarely go back before the 1800s, and very rarely far into the 1700s.