This review paper is focused on the design of anthracene and furan-containing Schiff bases and their advanced properties as ligands in complex transition metal ions The paper also provides a brief overview on a variety of biological applications, namely, potent candidates with antibacterial and antifungal activity, antioxidant and chemosensing properties. These advantageous properties are enhanced upon metal complexing. The subject of the review has been extended with a brief discussion on reactivity of Schiff bases with hydrogen phosphonates and the preparation of low and high molecular phosphonates, as well as their application as pharmacological agents. This work will be of interest for scientists seeking new challenges in discovering advanced pharmacological active molecules gaining inspiration from the versatile families of imines and aminophosphonates.