By Jay Fedak, CFP®
Fedak Financial Planning- A Fee-only Fiduciary Planner

A simple way to understand where you stand today—without relying on uncertain projections.

The most important first step in any client–planner relationship is not projections or strategy—it’s clarity.

Where do you stand today, and where do you need to be?

Most people don’t avoid retirement planning because they don’t care—they avoid it because they’re afraid of what they might find.

That hesitation is completely understandable. If there’s uncertainty around whether you’re on track, it can feel easier to delay the question than to confront it.

But in reality, the first step is much simpler—and far less intimidating—than most people expect.

Before we get into detailed analysis, projections, or complex strategies, a financial plan must begin with a clear and accurate picture of your current financial position. Without that foundation, even the most detailed plan is built on uncertain ground.

Let’s start with something simple.

If you’ve ever asked yourself, “Am I actually on track for retirement?” the most practical way to begin is by looking at a few key inputs:

• How many years you have until retirement and how many years you will spend in retirement
• What your current spending looks like
• How much you’ve already saved for retirement
• How much income you can expect in retirement (Social Security, pensions, portfolio income, part-time work, or other sources)

Each of these plays a distinct role.

Your time horizon determines how long your assets need to grow—and how long they need to last.

Your spending defines the lifestyle you’re trying to support.

Your current savings represent the resources you already have in place.

And your expected income helps offset how much you’ll need to rely on those savings.

Together, these inputs form the basic structure of any retirement analysis.

That’s it.

Before assumptions, before projections, before complexity—these are the numbers that matter most.

While there are many additional details as we move into more granular analysis, these four pillars form the foundation of any retirement plan.

Let’s check the Retirement Readiness Calculator.

Rather than guessing or relying on broad assumptions, you can start by taking a quick snapshot of where you stand today.

The Retirement Readiness Calculator is designed to do exactly that—simply, quickly, and without relying on projected investment returns.

By entering a few basic inputs, you can get a directional sense of whether your current path aligns with your goals.

It’s not meant to give you a perfect answer. Instead, it provides a clear baseline—a starting point that helps you understand whether you’re close, far off, or somewhere in between.

That alone can be incredibly valuable, because it turns uncertainty into something measurable.

The problem with most retirement calculators is that they rely heavily on projected rates of return. While that may seem reasonable, it introduces a very real likelihood of inaccuracy.

These projections depend on assumptions—market performance, inflation, and long-term averages—that are inherently unpredictable. Even small changes in those assumptions can lead to dramatically different outcomes.

A 1–2% difference in return expectations can significantly alter the result. Extend that over decades, and the gap becomes even more pronounced.

What looks like precision is often just sensitivity to inputs.

In many cases, these tools can give a false sense of confidence—or unnecessary concern—based solely on the assumptions being used.

A more pragmatic approach is to begin with what we actually know today.

Your current savings, your spending, your expected income, and your time horizon are facts—not assumptions.

By grounding the analysis in reality, we remove a significant layer of uncertainty and create a more stable foundation for decision-making.

From there, more detailed planning can be layered in thoughtfully, including investment strategy, tax considerations, withdrawal sequencing, and risk management.

But only after the baseline is clear.

This type of analysis is not meant to predict the future with precision.

Instead, it helps you understand where you stand today, identify potential gaps early, recognize how sensitive your plan may be to change, and make informed, practical decisions.

It gives you direction.

And in financial planning, direction is far more valuable than false precision.

Once you understand where you stand, the conversation becomes far more productive.

Instead of guessing, you can begin to test real decisions.

What happens if I save a bit more each year?

How would working an extra year or two change the outcome?

Are my spending expectations realistic?

How much do I need my investments to do—and is that reasonable?

These are the kinds of questions that lead to meaningful progress.

And often, the adjustments needed are smaller than people expect—especially when they’re made early.

Retirement planning doesn’t start with predicting the future.

It starts with understanding the present.

A clear snapshot of where you stand today provides a far more reliable foundation than projections built on uncertain assumptions. From that foundation, a thoughtful and flexible plan can be built—one that evolves as your life, goals, and circumstances change.

Jay Fedak, CFP® is a financial planner based in New Milford, Connecticut who works with individuals, families, and healthcare professionals on their financial planning needs. To schedule a complimentary phone or Zoom consultation, visit https://fedakfinancialplanning.com/ and click the Calendly link or call Jay directly at 860-750-9200.