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To “live the good life” is an idiom that means to live in luxury, without many worries or concerns. This is often used to describe people who have achieved some level of wealth or comfort after not having it before.
Examples:
- He grew up in a poor family. But he went to law school on a scholarship, had a great career, and now he’s living the good life.
- This is the good life! (You might say on your first day of vacation with a cocktail in hand.)