I use that phrase often, usually when I am in the middle of something fun. I take a moment to look around, see my friends having a great time, and I remind myself how great my life is. I know that not everyone is able to get out and do the things they want to do, so I know that I am a pretty lucky guy.
Specifically, I realize how fortunate I am to be able to get outside and enjoy so many cool things. Living in San Diego helps, since we have year round access to so many fun places. And, of course, I owe a big thank you to my friends, who constantly and willingly say "sure" when I ask if they want to do something a little different. I definitely have a great life!
Rockclimbing in Joshua Tree
Running my first 5k in Chicago
Whitewater rafting on the Kern River
SCUBA diving with sea lions at the Coronado Islands
Offroading in Woofy, Ric's jeep (and pride and joy)
Motorcycle riding along the Pacific Coast
Quad riding in Glamis