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As executives, it's important to make the most of our 401k plans. Here are three tips for investing in our 401ks:

1. Consider maxing out your 401k: By maxing out your 401k if your cash flow allows, you are lowering your taxing and putting away money for your retirement. The more you can invest earlier on, then the more compounding effect that takes place over time!

2. Review your employer's match policy: Employers often offer matching contributions to employee 401k plans. Review your employer's matching policy to see how much of your contribution they will match.

3. Consider Roth contributions: Roth contributions are taxed when they are made, but distributions in retirement are tax-free. This can be a good option for those who expect to be in a higher tax bracket in retirement.

People who are in the workforce today do not have a retirement that looks like their parents' or grandparents. It's a new world and people need to start thinking differently about how they save for retirement.

With the changing economy and lack of traditional pensions, executives need to save more money.

Here are three ways that you can start saving more for retirement:
1. Pay yourself first by having a portion of your paycheck automatically go into a savings account or a 401k before all other expenses
2. Live below your means and avoid lifestyle inflation
3. Invest in assets that will grow over time, such as stocks, real estate or bonds

How are you preparing for retirement? 1, 2 or 3?