The moment just gone is the past, the moment yet to come is the future, the moment we are in now is the present and all we truly have is this moment to do with as we please. We can create, destroy, plan and plot, or just waste away this one moment in time but whatever we choose to do here, now, will become our future so it is best to choose wisely. How many of us pause to even think about choosing wisely though?
Our present moment in time is like a fleeting butterfly that flutters and flitters from one flower to the next, here one moment and gone the next. Sometimes we might feel its presence and symbolically 'look up', but even the act of looking is too late as the moment has gone. Time waits for no man and even one moment is too precious to waste.
"Living in the moment" is something like having a feeling of being 'all-knowing' and being connected to everything at once and not only connected but aware of it too. Of course, we ARE all connected through our humanity and in Spirit, but we are usually not aware of it in our trivial, day-to-day lives.
There is a power in being able to capture the present moment and carry it into the next moment, and the next, and the next, and so on until we teach ourselves to remember that we should always be living in this present moment rather than wasting time in either looking back at the past (where its too late to change anything now anyway), or dreaming about the future (which hasnt arrived yet).
If we can learn to live in this present moment, we can look back at the past with less emotion and resolve to strive to make this moment, now, have more significance to all the other little moments to come. If or when we can do that, then we can answer the question, "What does the future hold?".