All Blacks captain Riche McCaw's rugby career may be over, but he's still not sure he's ready to be "Sir Richie".

McCaw in 2011 declined the prospect of a knighthood, saying he wouldn't consider it while still playing.

Four years and another Rugby World Cup victory later, he told TV3's Story on Thursday his views hadn't changed much.

"I'm pretty young in the scheme of things," he said.

"Having a Sir attached to your name at the moment does not feel at all comfortable."

The 34-year-old loose forward on Thursday announced his retirement from the game after 148 Test appearances and two Rugby World Cup victories.

But it was the All Blacks' shock loss to France in the quarter-finals in 2007 that McCaw nominated as one of the three key memories from his career, the lessons learned from that defeat in Cardiff helping fire New Zealand to an extended period of global dominance.

Asked to pick three key memories from his stellar 14-year career, retiring All Blacks skipper Richie McCaw's first choice is surprising.

It's not his debut for New Zealand, or either of the All Blacks' World Cup victories in 2011 and 2015 - although those did rank second and third.

Instead, with very little hesitation, McCaw settles on the All Blacks' shock 2007 Rugby World Cup 20-18 quarter-final loss to France.

"One of the memories, which was one of the toughest, was the 2007 game, which I think shaped the last eight or six years when the All Blacks have been No.1," McCaw told a media conference in Wellington on Thursday after announcing his retirement.

McCaw and the All Blacks were hit hard by criticism following the 2007 loss in Cardiff. "Lessons learned there have made certainly myself, but I think also the team, appreciate how tough it is and what you've got to do to get things right," he said.

"It may be a weird one to pick out, but certainly I think that's made the last few years really enjoyable for what we've achieved."

All Blacks coach Steve Hansen says the way McCaw reacted following the upset 2007 loss was a key factor in his development as an outstanding leader.

"You're not born a leader, because you don't know anything about it. Experience teaches you how to lead, good and bad," Hansen said.

In McCaw's first crack at the leadership, he said, the All Blacks were winning and things were going swimmingly.

"Then we got sat on our backsides a wee bit in 2007, and he copped more criticism than he'd ever copped before.

"That creates a bit of adversity. One of the great things I've admired about Richie is his mental strength, and during that time he showed that mental strength.

"The leader he is now compared with when he started is totally different, but that's natural. He's developed into a world-class leader, a man anyone would follow out of the trenches."