Living a life that is without care or trouble; a state of being totally relaxed
1)
Me: Godamit! I have to work a 70hour week and start work at 3am for minimum wage just to pay all my bills
Friend: Yeah man, i know i hate work, i only get a months holiday each year!
Me: STFU! Your living life by the pool!
2)
Friend: So what you been up to today?
Me: Ah, not much, pulled a sickie so today ive been living life by the pool
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