She felt content as she walked home.

Meaning: This describes the old lady feeling satisfied or happy as she moved towards her home.

Choice of Words: Content means satisfied or happy. Walked means to move at a regular pace by putting one foot in front of the other. Home is the place where one lives permanently. When you put them together, "she felt content as she walked home" means she felt satisfied or happy as she moved at a regular pace towards the place where she lives permanently.