Have you made your finances Trump-proof?

When Donald Trump is sworn in as the nation’s 45th president, the world – and your finances – could change drastically.

Perhaps not at first. But over the next four years, there could be significant changes to the country, U.S. foreign policy, the economy, financial markets, taxes, housing, etc. Are you prepared for those changes? And more importantly, is your money and family Trump-proof?

While no one is certain what a Trump presidency will bring, here are a few possible scenarios to account for over the next four years:

• Trump could lead the country into a new global war on terrorism, sending financial markets into heightened volatility.
• He could  significantly change some of the protective blankets that were used extensively by Americans after the financial crisis, such as unemployment insurance, Medicaid and food stamps.
• He could remove some homeowner protections, such as HARP, short sales, individual bankruptcy protection, etc.
• He could adjust taxes up or down which, based on past Republican presidents, could mean a lower tax rate for the wealthy and a decrease in the capital gains tax rate.
• There could be a legislative impasse; or the president-elect could be impeached for any number of reasons, such as the ongoing investigation into Russia meddling with the 2016 election.

While none of the above scenarios may come to pass, the fact is that people’s fears are high enough to warrant some financial considerations, such as:

Get a financial checkup. Now is a good time to have a checkup by a financial planner to review your age-appropriate asset allocation and make sure you’re on track. A financial planner will also go over your income sources, emergency savings, insurance, real estate investments, retirement planning, etc.  And it should include your own goals and concerns. If you’re worried about a Trump presidency and how it will affect you, you can bring that up as well.

Pay off debt. “Probably the best advice to Trump-proof your finances is to become an asset superman,” says Carla Dearing, CEO of SUM180, a financial wellness service. If the economy turns down, make sure you have enough assets and are not financially susceptible to any risks.

Review your cash situation. Make sure you have enough money to cover at least three months of expenses within checking, savings, CDs, money-markets or short-term bonds.

Consider increasing your real-estate assets. “Double-up on your mortgage if you can,” says Dearing. Consider renting out a room or refinance your house at a lower rate. One of the advantages of real estate is that your mortgage payments usually qualify for a tax deduction.

Consider bonds. Bond yields are still very low, but yields could go up soon, especially if Trump increases infrastructure spending or cuts taxes. Bonds are an important part of most portfolios, so investors should stick to an age-appropriate asset allocation for bonds. Municipal bonds could be attractive to Trump-proof a portfolio because you generally don’t pay federal taxes on income. Tom DeMarco, CFA, a fixed-income strategist at Fidelity, says one of the types of bonds that he finds appealing now are bonds issued by high-quality private universities, which don’t face the same types of pension and budget pressures faced by local governments.

Consider buying TIPS, or Treasury Inflation-Protected Securities. If inflation goes up under Trump, these instruments could guard you against that.

Diversify into different types of assets, different sectors, different equity- and fixed-income styles. Making sure you are sufficiently diversified is probably the best way to Trump-proof your portfolio. If you are comfortable in your stock-picking ability and if you have sufficient funds to lose, you may want to tweak your portfolio to some of the sectors that experts think could do better under a Trump presidency, such as defense stocks, energy, pharmaceuticals, and exporters.

Do nothing. If you’re comfortable enough with your own financial situation and you already have enough cash set aside in an emergency fund, your asset allocation is appropriately diversified and you have a stable stream of guaranteed income sources, then wait and see.

To sum up, do not steer too far from what you would normally do if Trump was not the president. Make sure your asset allocation is appropriate to your age and financial situation. Do not steer your diversified portfolio into unknown territories. But make sure your portfolio in strong and stable enough to weather any changes that come your way in the next four years.

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Michael Molinski is a New York-based economist and writer, and a former retirement editor at Fidelity Investments and a former journalist at MarketWatch and Bloomberg.