Here are excerpts from the article:

Problem No. 1: You don’t save enough

The solution: Get to know your future self.

So, how much to save?  “Rather than thinking about a generic retirement, think about the specific place you would like to live and what you’d like to spend your days doing—in other words, why exactly you are saving. ‘You can’t predict the future’, says Fidelity expert Christopher McDermott, “but the more specific your goals, the more realistic the plan will be’.”

Problem No. 2: You trade to your detriment

The solution: Control the big picture instead

“Another big blunder: Thinking you can outsmart the market. ‘People think they’re better stock pickers than they actually are’, says Brad Barber, professor of finance at the UC Davis Graduate School of Management, “whose research has found that that returns for frequent traders sorely lag behind those of buy-and-hold investors. . . It’s not just that most investors have bad timing, buying high and selling low. ‘The trading costs alone can really eat into your returns’, says Barber.”

Problem No. 3: You’re a Nervous Nellie

The solution: Take a time out, but don’t check out

“Some investors are too confident; others aren’t confident enough. Still others suffer from split personalities—exuberance when the market is up, fear and dejection when it’s down. Again, the best way to get your emotions on an even keel is to write an investing script you can live with. ‘If you can’t sleep at night because you’re worried about your investment strategy, chances are it’s not the right one’,”

says Tom Orecchio, an analyst with Modera Wealth Management in Westwood, N.J.

Problem No. 4: You invest too close to home

The solution: Diversify, diversify, diversify

“The unintended consequences of staying too close to home: Under-diversification. Not only is it risky putting too many eggs in one basket, it can lead to inferior returns over time.”

Problem No. 5: You overcompensate for past mistakes

The solution: Forgive yourself—and move on

“No doubt you can and should learn from investing mistakes.”  If you were savvy enough to buy in early on, say, Apple stock, congratulations. If you were one of those who passed, not to worry—there’s always more fruit on the tree. The trick, of course, is knowing when the time is right to pick it. And that’s another instance where advice from your financial advisors can help considerably. Contact: