Welcome, @vera101. Sometimes when multiple myeloma doesn't cause any symptoms, treatment is not necessary right away. That's when watch and wait will be recommended as a treatment. I actually prefer the term "active surveillance" because it sounds more proactive than just waiting. You will be carefully monitored during this time.

You can read more here from Mayo Clinic: https://www.mayoclinic.org/diseases-conditions/multiple-myeloma/diagnosis-treatment/drc-20353383

Do you have any symptoms at the moment? What led to your getting tested for multiple myeloma? Did your doctor mention that smoldering multiple myeloma?