I have a bump on my breast that is slightly discolored, it also feels like the lymph node in the same side armpit is swollen. Should I be concerned?

Breast lump. without seeing it, it is hard to tell. It is not an emergency but at the same time I would not ignore it. I recommend following up with a doctor for further assessment. However if it gets bigger or associated with redness that starts to spread that can be a sign of an infection and you should seek care immediate.