Dylan's "My Love" is a tender, slightly cheeky poem about growing old beside someone you still desire. The speaker opens with a question: are the summers really colder, or are the two of them simply older? The "winter's chill" is both weather and age, and it shows in the beloved's face.
The middle section looks back. Love once kept them warm outdoors under the stars, even in a thunderstorm that made the partner fear the worst. The speaker remembers it fondly, as a time of daring and closeness. The last stanza turns playful. If only they still had their strength, they could "make the bells chime," and the speaker recalls a "lovely figure" before asking, half joking and half hopeful, for "just one more time."
The refrain "My love" grows from one repetition to three, as though affection builds with each verse. The mood is wistful and warm, tinged with sadness but lightened by humour and lasting devotion.