This is fine. One good walk a day, day care, a couple of "sniffs" just to dawdle around outside, and some intellectual stimulation for inside and you'll be fine. Here are some good brain game ideas:
https://www.petmd.com/dog/general-health/ways-to-keep-dog-mentally-stimulated I can vouch for the Outward Hound toys and puzzle feeders (they're not indestructible; use with supervision)
Labs get fat easily, so I'd suggest using mealtimes as part of your mental stimulation. Get a slow-feeder and a couple of puzzle feeders and rotate them so your dog doesn't get bored. Hide kibbles in a rolled-up rag towel and loosely tie it so your dog has to sniff and paw and do some work to get to the food. Kong makes a wobbling feeder that's pretty indestructible (but I still don't leave my dogs unattended with it):
https://www.kongcompany.com/wobbler/ Freezing food and/or treats in water or salt/allium-free broth is a good enrichment activity in summer, maybe best enjoyed outside.
Teach the dog to "load up" and take him in the car. Almost all the labs I've ever known have really enjoyed car rides. Bonus if you can drive to a trail or somewhere new to sniff.
Two is still young for a lab; most are still puppies until they're about 3. I strongly suggest crate training; labs can be destructive af. Expect the transition and the first year or so to be a little bumpy, but after that, you'll have a great dog. Good on you for taking him in.