Future Timeline

Ray Kurzweils predictions are not 10 years too early, the predictions are 50% too early this is because Ray says computational power doubles every year where in reality computational power doubles every 18 months.

Source who is knows Ray and has chat to him privately about this (4 minutes into the video is where he talks about the reasoning as to why his predicted dates are too early.)

Another common misconception:

What, then, is the Singularity? It’s a future period during which the pace of technological change will be so rapid, its impact so deep, that human life will be irreversibly transformed. Although neither utopian nor dystopian, this epoch will transform the concepts that we rely on to give meaning to our lives, from our business models to the cycle of human life, including death itself.

From Chapter 1 of The Singularity is Near.