An ostentatious lifestyle in which physical location isn't important, facilitated by mobile technologies, allowing one to travel as much as they like. This is different from a vacation in that one must still tend to their income-generating responsibilities.
Tim: "Where's Ben?"
Alexi: "He's on lifecation."
Tim: "Huh?"
Alexi: "Yeah, he's on his yacht in the Mediterranean for 6 months doing all his consulting over a satelliteconnection!"
Tim: "That sly bastard."
A Lazcation is where you do absolutely NOTHING during your time off work.
A Lazy Vacation.
You don't go anywhere or do anything, intentionally.
Although there is some debate regarding Lazcation activities. Some approve of Reading or Sleeping or Watching movies. Others rely on a pure view on doing little to nothing.
Q- "I see you are taking time off on Monday, do you have plans to go somewhere"