So, the little yellow wire that connects the jack of my guitar to the wiring conveniently broke off. And I'm going to solder it back on today as soon as my friend gets here with his soldering iron.

I'm not incredibly worried as I have no reason to think this won't work, but I figured better safe than sorry, so.

Is this the right thing to do in this situation? Does anyone have any other suggestions (can't imagine what they would be) or advice?

My Guitars:
Fender Mustang.
Yamaha FG-413SL.