As part of your overall retirement plan, you’re probably counting on your Social Security benefits. But what happens if you miscalculate and end up taking the benefits too early? Couldn’t this short term boost help you if you’ve falling short in other retirement vehicles?

A new study from United Income says that a couple electing for Social Security benefits too early could lose up to $111,000 over the course of their retirement. Given that people are living longer, deciding when to start receiving benefits is an important consideration that could have big impacts on your golden years.

The study found that only a very small portion of retirees-4 percent- took their government retirement benefits at the ideal point in time. To determine that optimal age, there are numerous factors that must be taken into account, including future retirement costs, being single vs. married, life expectancy, other sources of income, and whether or not the person intends to continue working.

Many retirees would get a big bump in their overall benefits if they waited until age 70 to claim, according to the study’s findings. Very few retirees are in a better position by taking these benefits prior to age 64.

Calculating the best age to claim SS benefits is a challenge for plenty of people. Thinking ahead about your retirement, however, helps you have an overall plan for accomplishing your goals in your own life and passing on your remaining assets to your loved ones, too. This can include working with professionals like an estate planning lawyer.

If you’re interested in the big picture, set aside time to talk to your CPA or other financial professional, your insurance specialist, your investment broker, and your estate planning lawyer so that you have considered the impacts of your accounts across the board.