Elixir of Life

The Elixir of Life is the most expensive aspiration reward in The Sims 2, costing 30,580 aspiration points. It extends the life of a Sim by 3 days, but cannot be used by babies, toddlers, or children. There seems to be no limit on the number of times a Sim can use the Elixir of Life, but each bottle of it only has 5 uses.

Effects
The Elixir of Life extends the life of a Sim by 3 days. It does this by "rolling back the clock", so if an elder has been using it during their life, the bar which indicates their age will not show how long they've actually lived. The Elixir of Life only extends a Sim's time in the life stage they're in, it cannot send a Sim back to an earlier life stage.

If the Sim's aspiration bar is below gold, there is a chance that the Elixir of Life will have a negative effect, and make the Sim age 3 days. This can send the Sim into the next life stage, even if that stage is death. However, if the aspiration bar is green, there's still a 50 percent chance of success. An elder who is near death from old age may decide that chance is worth taking.

Cheats
When you force error on the Elixir of Life with testing cheats and click "reset" it will reset the amount of times it can be used.