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I agree Elostirion, and you put it better than I could have.
For anyone wondering about the math, in this essay (but not in every context) 1 Valian Year = 144 Sun Years... this somewhat confusing matter aside, this ratio explains why a Man's full lifetime can here be said to be less than a 'year' in Aman (or 'little more than one half-year' according to the text).
Elves who sail to the Undying Lands, or Aman as it is also known, from Middle-earth do not die, but live there perpetually, presumably in bliss. The souls of the Elves who die in Middle-earth come to rest in the Halls of Mandos, a sort of purgatory, where they contemplate their lives for some time depending how they lived their lives, but are eventually given a new body to live in Aman.
can't help thinking Tolkien maybe had quantum mechanics in mind when he devised the apparent temporal anomalies associated with mortals' likely experience of Aman...