EML research how living longer is changing almost every aspect of life. We then use that research to help clients – individuals and companies – plan how they can make the most of this unprecedented opportunity.

One consistent theme to emerge for clients discussions is that, while money is integral to most decisions, it is seldom more than an ‘enabler’ and often a huge distraction. Here are three of the most common traps.

The Nursing home trap. You arrive at a stage in life when you should be ticking off the more adventurous items on your bucket list but you don’t because you are worried about the cost of luxurious nursing homes. Don’t be. I’ve yet to meet someone who wanted to be in a nursing home. The luxurious ones are set up to market to the guilt-ridden offspring of their residents who don’t wish to care for their relatives at home.

‘It could be valuable’ trap. Otherwise known as hoarding. The war generation in particular have real trouble parting with anything. They remember shortages and austerity and believe it is good to hold on to everything. They also remember what things cost and assume the value always goes up. One client had a painting cleaned 30 years ago and was offered a decent ‘wedge’ by the restorer. Recently they were surprised to learn it is now worth a fraction of that earlier offer, the artist is now out of fashion. Hoarding everything is actually the best way to ensure that valuable items are overlooked by those charged with sorting your estate.

‘The NHS is wonderful’ trap. I’m the first to say that the NHS is wonderful, but even they struggle with miracles! Modern medicine can work wonders and the NHS provides us with access to some of the best, but we still need to do our bit. EML found the biggest frustration amongst today’s octogenarians are their self-inflicted health issues. A lifetime of smoking, excess eating and drinking plus a complete absence of exercise cannot be undone with a simple pill. So if you want to work your way through that bucket list then make sure your body and mind are up to the job.

There is nothing more rewarding then seeing clients achieve their goals. Money is always a consideration, but rarely the reason for failing to act and make the most of the extra years on offer.