high life vs dissipation

high life and dissipation both are nouns.

Word	Noun	Adjective	Verb	Adverb
high life	Yes	No	No	No
dissipation	Yes	No	No	No

As nouns, dissipation is a hypernym of high life; that is, dissipation is a word with a broader meaning than high life:

high life: the activity of excessive spending
dissipation: useless or profitless activity; using or expending or consuming thoughtlessly or carelessly

Other hypernyms of high life include waste, wastefulness.

high life (noun)	dissipation (noun)
the activity of excessive spending	dissolute indulgence in sensual pleasure
	useless or profitless activity; using or expending or consuming thoughtlessly or carelessly
	breaking up and scattering by dispersion