> tell me what would be your first thought..?

"порочная жизнь" is associated with "sex (without marriage), cigars and alcohol" and so on. Maybe "drugs", crime, and so on also, but maybe.

> The Good Life --can mean living the high life and not having to worry about money cause your rich..

That is "богатая жизнь" = "rich life". Again, "хорошая жизнь" in russian has no details why this life is good. Just good. Maybe money, maybe inner happiness, maybe something else. If you want to say "cause your rich" say it - "безбедная жизнь"="life without poverty", "богатая жизнь"="rich life".
I think you need change of concept because your idea doesn't fit in russian language well or vice versa.
"Good life" / "Bad life" don't sound like you want in russian.