Your MRI report says that you have disc herniation (slipped disc) causing some pressure on your nerves. It is difficult to comment further without knowing your symptoms and looking at the MRI myself.
You are at a higher risk of developing further degeneration wear and tear in your spine as the time progresses.
The general recommendation for you will be to lose weight, stop smoking, avoid lifting weights, bending from the back, involve in core and back strengthening exercises like yoga and Pilates.
However, since I don't know your symptoms, I cannot say this with certainty.