When I wipe my rectum there is bright red blood on the toilet paper. What does this mean?

Most likely piles. Most likely hemorrhoids or piles, but has to make sure by visiting your doctor will examine , do an endoscopy, and will rule out cancers, polyps, etc, treat you.
Hemorrhoid likely. You probably have a bleeding hemorrhoid and should see a doctor for an exam and a colonoscopy. Blood from below requires a colonoscopy to ensure nothing more serious such as colon cancer or polyps is causing it. Then hemorrhoid surgery can treat and cure the bleeding hemorrhoid.
See doctor. Most likely this will turn out to be either bleeding internal hemorrhoids (is there swelling or tissue prolapse?) or an anal fissure (is there pain with bowel movement), but it will be important to exclude the possibility of colorectal cancer. See a colorectal surgeon for an office examination (for anorectal sources) and a colonoscopy (to rule out something more serious).