Warm light also matches natural lighting more closely - at the hours you’re typically relying on interior light. High noon is closer to 4000k light. Sunset, sunrise, and low angle sunlight is warmer - which is when you’re typically relying on interior lighting. Warm light is for cozy, relax hours. Cool color light is for mid-day active hours. Most smartphones have the option to auto-shift the screen color temp similarly. Places of work and shopping centers typically have cool white light to promote alertness. Restaurants and spas use warm light to promote relaxation.

But do what you like!

5000k is sharp cool white. If this is for a residential application you should consider something closer to 3000k. If this is a workshop or similar 5000k makes better sense. That’s my .02.

The load is fine. You were correct in adding up the points. If you have trouble with dimming (flickering, etc) you might need an LED compatible dimmer.