the little orange pin that tells me what gear i'm in is not lined up with it's proper gear. it is about 1\2 space off. i have heard this is a common problem, so if anyone knows what's wrong or how to fix this, please let me know.

thank you

 

I'm assuming that this is a column shift automatic. The shift indicator needle is attatched to a cable and the cable is attatched to the upper steering column mast jacket. The clip can slip out of adjustment causing this condition.
You have to remove the trim from the front of the instrument cluster and then you should be able to see the cable and the clip at the top of the steering column. Slide the clip forward, off the column jacket, move it a little to the right or left as needed and clip it back on.
Then double check that you have it in the right position.
Let us know if this does the trick.

 

just open the dash and replace the pin in the gauge cluster area.. really easy fix...

 

I like my method better.
Block teh tires,
crawl under and loosen the bolt holding the shift linkage to the tranny,
have an assistent turn the key to run (NOT START),
have them place the shifter in P, tighten the bolt back down,
have them shift through the gears and verify your little arrow lines up with all gears.
5-10minute job and one 13mm or is it 15mm wrench.