What do we suspect will happen when the poles reverse?
The magnetic poles, of course...the true poles of earth have never reversed. The magnetic poles have reversed thousands of times.
Well, basically the earth's magnetic field gets very weak; actually may have a stretch of years with multiple "poles" scattered around the world. Then it finally reverses.
Practical effect is several decades where spectacular aurora are visible all over the world, and several hundred thousands more deaths per year from cancer due to the weak magnetic field. Other than that, not a big deal. The field has reversed several times in human/hominid history and we're still around.
My investment in compass companies will finally pay off as everyone has to buy new ones. Cha-ching!