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It isn’t your account balance that drives retirement confidence it’s whether you have a plan

According to Fidelity Investments’ 2026 State of Retirement Planning Study, Americans who have a written financial plan are more than twice as likely to feel confident about their retirement 83%, compared with just 38% of those without one. That’s one of the widest confidence gaps the study has found, and it points to a simple truth: confidence doesn’t come from a specific account balance. It comes from having a plan.

83% vs. 38%

Americans with a financial plan are more than twice as likely to feel confident about their retirement as those without one.

Source: Fidelity Investments, 2026 State of Retirement Planning Study

Why Planning Matters More Than the Number

It’s tempting to think confidence will arrive once savings hit some milestone - “I’ll feel good about retirement once I have $X.” But the data suggests something different: a plan turns a vague worry (“will I be okay?”) into a concrete roadmap . Answering future questions like what to do with this year’s contributions, when to claim Social Security, how to draw down your accounts, and how to handle health care costs along the way. The study also found that people have a written plan, are less likely to worry about their financial situation - and retirees who do are more likely to feel confident their savings will last.

A Simple First Step: Consolidating Old Accounts

One of the easiest ways to move from “no plan” to “a plan in motion” is also one of the most overlooked: tidying up old retirement accounts. It’s always where I start when I work with new clients. Simplifying the picture allows everyone to more easily understand what we are working with. The average American has worked for about six employers over their career, and roughly 1 in 4 people with a retirement account still have money spread across multiple old 401(k)s, 403(b)s, or IRAs from past jobs.

Consolidating these accounts into a single, coordinated strategy can:

💖 Make it easier to see your full financial picture and avoid overlapping or conflicting investments

💖Simplify your eventual withdrawal strategy, especially when drawing from multiple sources in retirement

💖Reduce the risk of forgotten accounts, outdated beneficiary designations, or lost paperwork

💖Potentially lower fees if older plans carry higher costs than your current options

From Tidying Up to a Full Plan

Consolidation is a great starting point, but it’s just that - a start. A complete plan also accounts for retirement income sources, tax strategy, and health care costs, which Fidelity estimates could exceed $170,000 for an individual over the course of retirement. Bringing these pieces together is what creates the kind of clarity behind that 83% confidence figure.

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Warmly,

Katie

P.S. If it’s been a while since you’ve reviewed old retirement accounts - or if you don’t yet have a written plan in place - there’s no better time to start. Let’s set up a time to look at consolidation opportunities and build (or refresh) a plan that’s built around your goals.

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