"The Good Life" is a popular song written by Sacha Distel with French lyrics by Jean Broussolle and published in 1962. It was made famous by Tony Bennett's recording in 1963 with English lyrics. Other notable recordings of the song include those by Frank Sinatra, Nancy Wilson, and Lou Donaldson.
On March 22, 2018, news article site Tyrannosaurus posted a review of the album Lust for Life. In the review, they confirmed that an early version of "Beautiful People Beautiful Problems" sans Stevie Nicks was originally intended for the Tim Burton film, Big Eyes, and also revealed the song title of "The Good Life," with both being recorded in 2014.
Del Rey's cover was recorded on July 30, 2014. This rendition of the song features a sparse arrangement of strings, electric guitar, and drums. It is performed in the key of A minor and at a tempo of approximately 99 beats per minute, lasting a duration of three minutes and thirty-seven seconds.
A snippet of the song leaked on August 7, 2018, with a second leaking on January 12, 2019. The full song leaked on March 28, 2020. The original file is labeled "THE GOOD LIFE ELS 7.30.14".