The title is a quote from the song The Living Years by Mike and the Mechanics. The song is about how he didn't tell his dad all the things he wanted to before his dad past away - or put more simply, regrets. The kind of regrets can't be reconciled after death.
I think the point is that this is your one life. Sometimes I don't think we fully comprehend that idea. It's something I've been contemplating in my own life. What do I actually want to do with my one life? One thing that's gone through my mind more than once is "live in New York City". Assuming my wife would go along with it, if living in New York was really something we wanted to do - we would have to make more than a conscious effort to do it. But if it's really something we want to do, I don't want to wake up when I'm 75 years old having never moved out of Omaha, Nebraska.
Would a huge change like that effect friends and family? Yes, it would. We wouldn't be able to see friends and family, hardly ever. Grandparents wouldn't be able to see their grandchildren, etc. Is this a reason to not live our lives the way we want to? I'm not sure.
Would it effect our children? Yes. Is that a reason not do a big life change like that? I'm not sure.
Would it be everything we think it will be? No. Is that a reason not do it? I don't think so.
I'm not even sure at this point if that is one of our life goals - we've never even visited New York before. My point is, life goals - whatever that may be - should be thought of and sought after. It's easy to get caught up in the monotony of every day life - and it's comfortable - and maybe that's a life goal in itself. I just don't want to find myself wishing I had lived a different life one day.