Even with a new president, the economic recession could drag on through next year.

But the good news is that recessions often spark financial opportunities.

When the chips are down, the trick is to save your cash and save what you can on taxes. Then, keep your eye out for the opportunities others are likely to miss.

Knowing what is expected can help your family plan both for investments and job opportunities.

Assuming the new president gets his way, Uncle Sam will spend big bucks beefing up the country's infrastructure.

Barack Obama likely will give money to states to repair bridges, roads, railroads and airports. Unemployment benefits are likely to be extended, so people have more time to look for meaningful work. More financial aid will be devoted to health care at the state level. You may also see tax credits to help keep taxpayer pocketbooks from running on empty.

Most anticipate an overhaul of the federal tax structure. But approval of major tax legislation in Congress would need the support of Republicans. Mr. Obama was promising a tax cut for the middle class. Those with adjusted gross annual incomes of more than $200,000 are expected to pay more.

If you rack up investment profits, you'd likely pay more. Expect to see the long-term capital gains tax rate -- for investments you've held at least one year -- rise to 20 percent from 15 percent. This means if you have profits from stocks, bonds, mutual funds, or real estate, for example, it could pay to take those profits while you're being taxed at the lower rate.

Most expect the Bush tax cuts, due to expire in 2010, to go unrenewed. This likely means higher estate taxes -- at least for those who die in 2011 and beyond. Most believe that estates of at least $3.5 million will owe federal estate taxes of at least 45 percent.

Other anticipated tax changes, according to Deutsche Bank, New York, include a refundable child tax credit, an increase in the standard deduction on federal income taxes, a beefed-up earned income tax credit, and a reduction of the corporate tax rate to 30.5 percent from 35 percent.

If you make big bucks, however, expect a restoration of the top two tax rates during the Clinton era -- 36 percent and 39 percent. That's an increase from the current 35 percent.

High-tax-bracket investors should start preparing today. Look to municipal bonds for attractive taxable equivalent yields. Tax-free bond rates are as high as those on U.S. Treasury bonds. So municipal bonds are a better deal in the event of a tax hike.

Just be sure you invest in AAA-rated municipal bonds. Many states and municipalities are running large deficits due to the recession. So it pays to do your research and invest only in the financially strongest entities.

Industries expected to do well during the Obama administration include:

• Natural gas. Money should go into natural gas and other sources of alternative energy, such as wind, solar power and clean coal technology. Some analysts see utilities using more natural gas to meet electricity demand.

• Health care. Changes are anticipated. But no one knows for sure when or if a national health-care system will debut. Some analysts say that giving 40 million uninsured persons health care coverage would cut health insurance company profits. On the positive side, electronic health information systems should do well under a national health insurance plan. Companies engaged in stem cell research and preventive health care also may do well under Democrats.

• Technology and telecommunications. The Obama administration, according to analysts, wants to expand Internet access and build new facilities.

• Low-cost retail stores.