I don't think you have much to worry about at this time. I am not sure about your S1, but the rest of the lumber doesn't have nerve damage. I had a surgeon tell me once, that he doesn't operate on a bulging disc unless it falls to the middle (meaning central). It says your disc are hydrated, thats good. Its when they are dehydrated (meaning dried out) that they may do something about it. Everybody has some degenerative disease as they get a little older.

What did your Dr. tell you? It does look like if you are unable to work they would give you some pain medicine. Surgery is the last resort, not the first. I have had seven surgeries and I am better, but not free of pain.

At L5/S1 you state, the MRI says mild bulging. You shouldn't have to worry at this point. You also have no root compromise at the other levels. Thats good also.

I have had L2 thru S1 fused and that in itself causes pain. There doesn't seem to be a good answer and I am sorry for that. Just do what your doctor says and don't worry. The injections help some people.

I'm sorry this is about all I can say of your MRI. Wish I could be of more help.
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Fancylady