Predictions include increasing inflation, increasing interest rates, tight government spending control in some areas, potential trade levies and increases in some taxation.

 We have come across all of these in the past, but seldom so many at the same time – and of course any or none might come to pass. The point is how can you reduce the impact on your personal situation.

 Firstly, it is helpful to understand the potential impact of each change, some may have little impact others could be significant. A good strategy is to have financial plans that are well diversified so that the impact of a negative aspect is reduced and the boost from a positive change is maximised.

 Having large amounts of cash can be negative if interest rates remain low while inflation increases. Taxes tend to be increased gradually and in selected areas first, if the thing you want to buy is likely to be subject to increased tax or a levy – it might be prudent to prioritise this before changes take place, if not you might consider alternative solutions that avoid additional charges.

 Sometimes a pension or investment portfolio may appear weighted towards or against an asset class or geographic area that might be affected by the changing world we live in. A meaningful discussion with an Independent Financial Adviser could be time well spent in designing an alternative strategy.

 Of course, you can leave it all to chance and hope for the best, but that might be expensive. Protecting a portfolio or making assets work harder can make all the difference in later life.