It's a struggle to define the concept of life, but imagine it's another word for time.
Contentment is not just accepting.
Acceptance is settling for things you didn't achieve.
Achieving creates happiness.
Happiness is living your life in your way.
If fully engaged in living life, that's action. You are not simply watching time go by. But you must decide if you are going to connect to who you really are. And especially, what you really want.
Life exists with you in it or not; every minute continuing to go by.
Your time is precious. Really.
In other words, YOU are precious; your LIFE is precious. Really.