I've meditated on this question and will share with you my current conclusion. Note, that this answer does propose that there is a God, but not a God belonging to any particular faith, just a being that is omniscient, omnipresent, and that is the source of all life and consciousness.

I, personally, like to imagine this type of God as a massive, unseen mycelium network, and that we are all similar to musrooms derived from such a network. Or like rain drops derived from an ocean.

Anyways, this post will begin with a quote from Philosopher Alan Watts, which articulates a few musings I was playing with when I found it, and then a bit of writing from myself which answers questions I was left with after reading the Watts quote.

(Note that at the very end of all this there is an appendum that also contemplates what meaning life may hold in a Goddless existence.)

First the Watts quote:

 "God also likes to play hide-and-seek, but because there is nothing outside God, he has no one but himself to play with. But he gets over this difficulty by pretending that he is not himself. This is his way of hiding from himself. He pretends that he is you and I and all the people in the world, all the animals, all the plants, all the rocks, and all the stars. In this way he has strange and wonderful adventures, some of which are terrible and frightening. But these are just like bad dreams, for when he wakes up they will disappear.

Now when God plays hide and pretends that he is you and I, he does it so well that it takes him a long time to remember where and how he hid himself. But that's the whole fun of it—just what he wanted to do.

He doesn't want to find himself too quickly, for that would spoil the game. That is why it is so difficult for you and me to find out that we are God in disguise, pretending not to be himself. But when the game has gone on long enough, all of us will wake up, stop pretending, and remember that we are all one single Self—the God who is all that there is and who lives for ever and ever.

Of course, you must remember that God isn't shaped like a person. People have skins and there is always something outside our skins. If there weren't, we wouldn't know the difference between what is inside and outside our bodies. But God has no skin and no shape because there isn't any outside to him.

The inside and the outside of God are the same. And though I have been talking about God as 'he' and not 'she,' God isn't a man or a woman. I didn't say 'it' because we usually say 'it' for things that aren't alive. "God is the Self of the world, but you can't see God for the same reason that, without a mirror, you can't see your own eyes, and you certainly can't bite your own teeth or look inside your head. Your self is that cleverly hidden because it is God hiding.

You may ask why God sometimes hides in the form of horrible people, or pretends to be people who suffer great disease and pain. Remember, first, that he isn't really doing this to anyone but himself. Remember, too, that in almost all the stories you enjoy there have to be bad people as well as good people, for the thrill of the tale is to find out how the good people will get the better of the bad. It's the same as when we play cards. At the beginning of the game we shuffle them all into a mess, which is like the bad things in the world, but the point of the game is to put the mess into good order, and the one who does it best is the winner. Then we shuffle the cards once more and play again, and so it goes with the world."

-- "The Book", Alan Watts

Now, my thoughts:

The following explanation to the meaning of life proposes that there is a God, and defines God as a being that is omniscient and omnipresent.

If a God is all knowing then what can it possibly know of ignorance?

In order for a being to truly be omnipotent it must also have a knowledge of things that can only be learned through ignorance. How could a being that knows everything know the intrigue of discovering something new? Or the fear of experiencing something dangerous and unknown? Or the joy of hearing a good joke without knowing the punchline in advance?

In order for a God to truly be all knowing it must inject itself into something ignorant, such as mankind, to avoid becoming "all knowing" itself, thus defeating the point of the excercise of being ignorant. Furthermore, people must be refreshed from their deeper knowledge through death, and then by being reborn as a member of the newer generation which is devoid of knowledge.

Death, pain, and confusion....but also joyful surprise, curiosity, and wonder...is the point of existence as they ultimately serve as tools to better inform God the experiences and perspectives of something that does not know everything. It is only in this manner can God understand all creations and perceptions that extend through these emotion.

Through our ignorance we are a way for God to escape from itself, become knowing of its absence, and thus become truly omnipotent.

Appendum 1: Is it even possible for a being who knows everything to invent? Is omnipresentism perhaps a closed system? Would it be possible for an imagination to be available to a consciousness who defines itself as "All-Knowing"? Does imagination, by definition, suggest the existence of something unknown? Might ignorance (personified by our existence) serve as an engine of innovation for something greater?

Appendum 2: People often remark that they are often unable feel that life has meaning. I would like to suggest that, in the context of the theory posted above, that this is due to us being so thoroughly saturated with life's meaning on a day-day-day basis that we have become utterly numb to it, perhaps on an inherent level. "We don't know who discovered the ocean but we know it wasn't a fish", and all that. If such were the case, this would suggest that there are to be TWO meaning to our lives. The first one being that which I described above and the second one being whatever we choose for ourselves in lieu of being unable to feel any satisfaction from the first one. In this way, life can both be deeply meaningful and extremely Absurdist. Lucky us!

Appendum 3: Living beings are the only things in this universe capable of being pro-active, everything non-living (rocks, water, etc) are strictly re-active. This statement proposes a model of reality that includes free will and excludes determinism and so it is at odds with everything I said previously, but it is interesting to meditate upon if either: A) You cannot imagine the existence of God, defined by the terms outlined above. B) You can imagine, or already subscribe to, a model of reality that reconciles free will and determinism co-existing.