Accumulation - in this phase, you put in the maximum effort in earning. The phase is about accumulation, and that comes with saving and investing.

Saving is only a small part of this phase. You not only have to save money, but also you need to invest the saved amount.

Transition- in this phase, you start to monitor your retirement investment more closely, consider buying annuities, rebalance your portfolio, and move from saving to spending.

Distribution- in this phase, your focus is creating a regular income for yourself, as you won't receive monthly paychecks. You will also ensure you are secured by distributing wealth in various secured financial instruments for the remaining years.