Mri of lumbar spine showed regions of focal fatty replacement and/or hemangiomas within the lumbar spine and chronic wedge deformities. should i worry?

Not too much: The area of fatty replacements and/or hemangiomas within the lumbar spine are not significant, and pose no future problem for you. However, the chronic wedge deformities may be due to prior trauma with injury to the vertebral bodies, or possible osteopenic compression fractures. Discuss with you doctor about possibly osteoporosis or other bone abnormality, and how to limit further injury.