8. This is awfully long for just a phase
"Accumulation phase”†tends to be a favorite of advisers. It's less popular with clients, who generally refer to it as 'work.' Too simple? Try saying “saving and investment for retirement.” And rather than watching as clients' eyes glaze over, nix “distribution phase” while you're at it. The much simpler “living off your savings and investments in retirement" works just fine.