Looking to improve your personal finances? Erik Lie has a few tips. As a professor of finance at The Tippie College of Business, his new book, “Wealth Management,” offers strategies for people to strengthen their long-term financial outlook. Here are a few of them:

• Contribute the maximum possible to retirement accounts, and if those are topped out, consider allocating more to Roth IRAs.
• Invest in a diversified portfolio of mostly low-fee index funds, supplemented with individual stocks in non-retirement accounts to give more tax strategy flexibility.
• Invest mostly in stocks, especially if your investment window is 10 years or more.
• Sell only if you’re harvesting losses to minimize your tax bill, or if you desperately need cash.
• Buy health insurance.
• Buy term life insurance if you have dependents.
• Start a 529 college savings account if you have children.