Move blog page and create static home page

I understand the steps for creating a static home page, naming the blog page, and telling WP what I want to do in the settings. But since I’m doing this on an already existing site I just want to make sure of one thing. Am I correct in understanding that my blog page which is currently the home page will AUTOMATICALLY move to the blog page I’ve now named and specified and no past posts will be lost? My site is https://www.fixitplan.com. Thanks for any help!