There are different types of lipoma and with your age I think it is probably an Angiolipoma which....
Typically, these tender, soft, subcutaneous nodules are present in adolescence.
Tumors frequently are multilobulated and are somewhat firmer than ordinary lipomas.
The associated pain is vague and may be spontaneous or caused by pressure.
Lipomas are benign tumors composed of mature fat cells. Benign (B-9)

='s not cancer.
To have it removed will be a simple procedure and your surgeon should explain this to you.
Best Wishes,