FWIW, the Buddha never actually said "all life is suffering." That's a bad translation by early Europeans who went to Asia and misunderstood what was being said to them. This is the format the Four Noble Truths take in most of the original scriptures:
Source:
Dhammacakkapavatana Sutta
What's more, the word often translated as "suffering" (
dukkha) means something closer to "dissatisfaction." The Buddha is pointing to the frailty of being born into a human form: we are mortal, prone to sickness and aging, subject to the vicissitudes of life (being separated from what we want, being united with what we don't want, etc.). The First Noble Truth is simply about acknowledging the fact that it isn't easy being inside a human body, inside of time, inside our shared fate. He is not saying all of life is suffering, but simply that suffering (or disappointment) is a fact of life. In other words, the Buddha is confronting our existential predicament: in the face of death, how do we go about living our lives? Clinging onto transient sensual pleasures will ultimately leave us disappointed. Sensory pleasures, here, include not only short-term objects of pleasure, like sex or food, but also long-term attempts to assuage our existential angst, such as workaholism, obsessive anger, or addiction:
Source:
The Dhammapada
The closest Western analogue, I think, would be Epicurus: the physicalist, who believed that, in the face of our mortality, life should be about minimizing pain and regret as much as possible: "Life is short. Make the best of it."
Buddhism has a lot of beautiful advice about how we tend to make life more painful than it needs to be. My favorite example of this is the story of the two arrows. The Buddha asked his monks, if a fellow were to be hit by an arrow, wouldn't that suck? They agreed it would suck. If he, then, were to get hit by a second arrow, wouldn't that suck more? They agreed, it would suck twice as much. Then he said, life often sends us the first arrow -- inevitable pain. But we shoot ourselves with the second arrow: raging against the inevitable pain life sends us. I love that about Buddhism.
But, the teachings are so married to the
sramana culture of ancient India -- an entire class of spiritual seekers who basically lived a life of wandering homelessness -- that it's difficult to apply many of the principles if you want to live a secular life, with a job, with a family, etc. That's ultimately what led me away from Buddhism. It was simply impractical, although a lot of it is great advice.