So wake me up when it's all over
When I'm wiser and I'm older
He wants to sleep through the hardships in life, all the unromantic stuff unrelated to his dreams. He can’t stand it while he’s young so he wants to get away and come back when he’s more mature and capable.
For some reason, it brings to mind a disaster (as in, “when it’s all over”). His hardships are like a disaster he just wants to sleep through.
He wants to be like his elders, who he think are wiser.
Unfortunately, unless you put yourself into a coma, that’s not really possible. There’s a mournful tone to this impossibility and hopeless hope.
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