Your MRI report suggests degenerative changes which are usually age-related. Disc osteophyte
complex implies a backward slipping of the disc with some new bone formation (osteophytosis). These can compress the nerve roots and spinal cord
which is reflected in your report. The compression may lead to various symptoms (eg: tingling
or shooting pain along the arm or weakness of the hand). However, usually, if the patient has no severe symptoms, management is mostly by medication. An orthopedic surgeon would better advise you on the same.
Sometimes, the new bone formation can lead to compression of the foramen transversarium on either side through which the vertebral
arteries (supplying the posterior brain circulation) course. Compression of the vertebral arteries can lead to lacunar infarcts in the cerebellum
and these may cause problems with body balance. It maybe advisable to get an MRI scan of the brain done to look for these.