Ethel Caterham may not be the best-known woman in the world, but she is a record-breaker. Today she celebrated her 117th birthday with family and friends, and last year she met King Charles. She became the world's oldest living person after the death of a Brazilian nun.

Remarkably, Ethel is still five years short of the record for the oldest person ever: Jeanne Calment of France, who lived to 122. Jeanne famously entered into a French property-release arrangement, known as a viager, with a 47-year-old lawyer. He agreed to pay her regularly in return for inheriting her apartment. Jeanne outlived him, and his estate ultimately paid more than twice the apartment's value.

There are three useful lessons here:

1. Think carefully before buying a property with a lifetime tenant.
2. Equity release can work well, but only when structured carefully.
3. Money needs to keep pace with inflation, not sit forgotten under the mattress.

For example, if Ethel had moved to Spain in 1976 at normal state retirement age with £5,000, keeping pace with inflation would mean that sum would need to be worth around £46,716 today. Left in a no-interest deposit account, its spending power would have been badly eroded.

Investing wisely matters. We may not all live as long as Jeanne or Ethel, but many people live longer than expected, so it is important to review assets regularly and ensure they have the potential to keep up with inflation.

If you would like to discuss ways to invest for the future, please contact fiona.keogh@myhorizonswealth.com