There are several synonyms that can be used for the phrase "reversals of fortune", which means a sudden and significant change in someone's financial, social, or personal situation. One of the most common synonyms is "turn of events", which refers to unexpected changes in circumstances. Another synonym is "ups and downs", which conveys the idea of a series of alternating successes and failures. Other synonyms include "twists of fate", "changes of fortune", "shifts in luck", and "fluctuations in circumstances". Overall, these synonyms capture the unpredictability and variability of life and the many ways in which our fortunes can rise and fall.