Indeed, Taylor Swift is having the time of her life. Aside from her successful career, the 27-year-old singer-songwriter is said to be happy in love again with her new beau, British actor Joe Alwyn.

Allegedly, Alwyn is the inspiration behind Swift's new single, "...Ready for It?" from her sixth studio album, "Reputation." The song is lyrically about her reputation and falling in love again, alluding to Alwyn, whom she has reportedly been dating for months.

"Some, Some, Some boys are trying too hard / He don't try at all though / Younger than my exes, but he acts like such a man, though," one verse reads. "Island breeze and lights down low / no one has to know."

As for the first part, Alwyn is only 26 years old, making him ten years younger than Swift's ex Tom Hiddleston (36), and seven years younger than ex Calvin Harris (33). The chorus, on the other hand, could be hinting at the secrecy of their brewing romance.

While nothing has been confirmed regarding their status, rumor has it that Swift and Alwyn have been dating for the past few months and just wanted to keep their relationship out of the spotlight.

"[Swift and Alwyn are] very happy together," an unnamed source said in one interview with PEOPLE. "Her decision to keep her relationship with Joe quiet is making her happy. They have been getting to know each other slowly without any pressure."

Aside from their brewing romance, both Swift and Alwyn are very busy with their respective careers. The former has been busy prepping for her sixth studio album, "Reputation," which is scheduled for a release on Nov. 10.

The latter, on the other hand, is now busy filming the historical drama film "Mary Queen of Scots." In it, he plays Robert Dudley, Queen Elizabeth's (Margot Robbie) counselor and lover.

Also starring Saoirse Ronan, David Tennant, Jack Lowden, and Martin Compston, "Mary Queen of Scots" is scheduled to be released in late 2018.