In my last article here, I showed you how planning for retirement involves two very different elements: your own behaviour, and the technical aspects of pensions themselves. Now it’s time to take a closer look at that ongoing tension between the behavioural factors and the technical factors. Or, to put it another way: what you want, versus what is possible.

Retirement isn’t what it used to be. And that’s a good thing. For many, retirement is not so much a single large event but a series of much smaller events. There’s even a new buzz-phrase for it: ‘the retirement journey’.

The three legs of the retirement journey

To keep it simple, we can divide the retirement journey into three distinct phases. It’s then easier to identify the behavioural and technical factors that affect each stage in turn.

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