Need some help from the experts. I haven’t been fishing since Gerald Ford was president with my trusty zebco 202. Now I’m moving to one of the premier walleye and smallmouth fisheries in the US. I have no idea what kind of rod and reel to get or what tackle I need. My tackle in the past consisted of hooks, egg sinkers, 2 or 3 bobbers and earthworms.

I'll be Trying to catch walleyes, northern, and smallmouth bass from both the shore and a boat. What kind of basic tackle, rod and reel and line should I get? My budget is $150 with some wiggle room if necessary. The location is Lak Oahe inSouth Dakota if that helps.

Thanks in advance for any help!

Wait until you get there and buy what they suggest in a local tackle shop.

Fly Rod, Fly Reel...   Fly Line, Flies...

For Walleye and bass you essentially need two rods and reels - I'd suggest a medium spinning rod 6-15pd test for walleyes and some fairly big plugs and spinners (the locals will know what tackle you need) + some bait rigging. For the bass fishing - that's a thing all it's own - and most will go medium light bait caster with 4-8 pd test, and people use bugs, poppers, spoons and bait fish.  Alternately - you can pick up a light trout spinning rod setup and rig for bass and panfish and get a little more versatility.
For reels - I like Daiwa.  Rods - look for a graphite rod - Berkley is a good starting point.

Smallmouth as a general rule will attack chartreuse lures.

Thank you for the specifics! That’s a great help. Off to the Cabela’s catalog.

Start a drug habit.  It will be cheaper in the long run.