A. It's great to start early for retirement planning, but since you are not at that stage yet, there are a few things you might easily ignore, here is a list of such easy-to-forget things which we know will happen in everyone's retirement:
1. Enroll in Medicare
If you delay social security benefits, you need to actively enroll in Medicare on your own! Your window of enrollment is 3 months before to 3 months after your 65th birthday. If you forget about, expect a permanent penalty for each year of delay.
2. Non-Regular Purchases
You might be budgeting your monthly income and expenses, but don't forget those occasional major purchases, for example, car replacement, major house project, grandkids gifts, etc.
3. Longer Life
If you and your spouse are in the 50's, then at least one of you has a 50% chance to live to the 90's, you need to budget your money last that long, also factor in lots of older age related expenses, such as house upgrade to accommodate senior living, or long term care facility expenses, etc.
4. Estate Planning
You need to make sure a Will and a Financial Power of Attorney and Health-care directive are in place, it will be too late when you need them then prepare for these documents because you might not be able to make decisions at that time.