I'm in this position, by choice.
I had a job and my DH, who runs his own business, struggled with a work/life balance. I chose to quit my job and effectively be employed by him to 'run our household'.
I do the cooking, cleaning, shopping etc, but more importantly to him I take on all the emotional workload - I organise birthday presents and special meals for us and our families; I do the household finances; I flag up necessary appointments and tasks (like renewing insurance or booking dental appointments etc); deal with any outside issues (like calling the council or dealing with warranties etc). I also am on hand to help with business stuff if it's necessary (not much, but maybe dropping stuff off/ordering stationery etc.) When I'm not doing any of that, I volunteer, help out in our local community or pursue hobbies etc. For my husband, work is his hobby, so he doesn't feel like he's grinding while I'm living it up.
He basically gets up, goes to work, does his daily stuff and is able to concentrate, and the world just revolves around him without him having to think about it. Then when he's done with work, we're both free to do stuff together or pursue our own interests. He works less now than he did when I was working (ie. he's not working to support me in that way), and even if we were rich he'd still work full time as he loves what he does. We're comfortable but not super well-off, and he contributes to my pension/savings etc so I've still got money if anything happened to him. Our lifestyle is more than supported by his wage, and we're able to live that lifestyle because all the practicalities of life are sorted by my 'job' (for example, we never do chores on weekends so we can do fun things), so we both feel we contribute equally.
I'm never bored, and I feel like I'm positively contributing to the household, and the world at large, just not in a monetary way, which I've never believed is the best indicator of a person's worth anyway.
I'm surprised that so many people on here think that not working at a job means you're not busy; even when on other threads we see all the time women complaining about having to take on the emotional workload of a household without any recompense. I take on that workload, but I'm paid fairly for it. Works for me.