1970s Britain: 'Families were forced to tighten their belts and contend with high inflation' Sounds familiar? Much like today, families across the country were forced to tighten their belts and contend with high inflation, a dip in their standard of living and the threat of unemployment. Mass unemployment was a feature of the late Seventies, and in 2012 we are still battling high unemployment. This year is a special one for Britain, with the Queen's Diamond Jubilee and the Olympics casting a spotlight on us. While these events undoubtedly provide a boost to the country, the Government must work hard to increase public morale and do as much as possible to improve our economy. Our investment arena is a lot more sophisticated than in the Seventies, with consumers afforded the choice of unit trusts and passive investment strategies among others, allowing much more freedom and scope to save for our later years. People's expectations today are higher than they were almost four decades ago and we must work hard to manage them, especially in times of economic turmoil when priorities are based on the here and now. Longer life expectancy and the constant threat of a higher retirement age mean there is more pressure on consumers to look at both investments and retirement savings. Those retiring in the Seventies were accustomed to a lot less, having survived the war years. Today, retirees expect to keep up a suitable standard of living - and with the state pension where it is, personal pensions and tax-friendly investments have never looked so appealing. Anna Sofat is director of Addidi