1. Timing the Market - Historically the stock market has returned on average 10% per year.  That return measures only what a buy and hold investor would have received.  The average investor's returns are 2% lower because they tend to put their money in near the top and pull their money out near the bottom.  To be successful timing the market, you have to be correct twice (on pulling your money out and putting it back in).  The odds are not in your favor.
2. Following the herd - Some of the worst investment mistakes have been by people who have been swept up in a speculative bubble (Think Internet stocks in the late 1990's).  I know a lot of people whose first foray into investment was buying shares in Internet companies  who had no business model and were losing enormous amounts of money.  If there is a frenzy around investing in a certain industry, sector, country be careful, you might be getting in right before the bubble is about to burst.
3. Paying too much in fees - It is almost impossible to tell which Fund Manager will the best year in and year out.  Annual fund expenses can range from 2% - 0.5%.  Most of the time the funds with the lower expense will beat the expensive fund manager, who is usually an active trader.  Take a good look at index funds.  A lot of times they make sense to include them in your portfolio.

By following the three strategies above there is no guarantee that you will get rich from investing, however you will give yourself a better shot at staying ahead of the curve and reaching your goals.

Marc Bautis is an Independent Investment Adviser specializing in working with retirees and those nearing retirement who want to protect their principal and ensure their money lasts.  He is proud to deliver independent advice, always in his clients best interest.