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1.
A good response to "how are you?" If you're really livin' the dream, hold your right hand up in a "rokk!" symbol (same as sign language for "I love you"). If you are hyper-livin', hold up both hands.

Can be shortened to "livin' it."
Q: Hey, Gina, how are you?
A: I'm livin' the dream.

Q: Baby Helen, what's up?
A: (both hands up in "rokk!" formation) Livin' it!
by EllenMuehlberger May 05, 2006
 
2.
Phrase-word describing the act of doing something that has relative significance to you and your closest companion that would seem pathetic and sad to most other people.
Sitting in the back parking-lot of a Japanese restaurant, John pours stolen vodka into a vitamin-water bottle.
Sally: We livin' the dream!
by hellzyeah January 13, 2007
 
3.
When one lives at a friend's house for an extended period of time and contributes very little to nothing financially.
James: I came home from work at 3 p.m. and Sean was still sleeping on the sofa next to a half-eaten bowl of Starbursts.

Mark: Dude, he's livin' the dream.
by Dream_Weaver December 22, 2008
 
4.
Taking a massive shit on company time, knowing damn well that there is nothing better that you could be getting paid to do
Manager: Where have you been for the last 45 minutes?

You: Just "Livin' The Dream"
by ZeSquizz January 28, 2011
 
5.
making minimal amounts of money at a job you could care less about while you get high, drink, and party with your friends all the time! in the period in between end of high school till you get a real job.
dude your such a fag ive been livin the dream for the last 4 months all i do is get drunk, baked and go to work hung as balls lifes a party man
by Lfultron January 31, 2011
 
6.
When you have no care in the world and everything is "perfect" ... or when you're completely trashed and having a badass time.
Frankie: "I'M LIVIN THE DREAM YO!"
by k.shaw November 30, 2009
 
7.
Phrase-word describing the act of doing something that has relative significance to you and your closest companion that would seem pathetic and sad to most other people.
Sitting in the back parking-lot of a Japanese restaurant, John pours stolen vodka into a vitamin-water bottle.
Sally: We livin' the dream!
by hellzyeaa January 12, 2007