Plank or Speck?

Although I haven't read it recently, this passage came to my mind within the last week.

(Matthew 7:1-5 NIV)
1 "Do not judge, or you too will be judged. 2 For in the same way you judge others, you will be judged, and with the measure you use, it will be measured to you. 3 "Why do you look at the speck of sawdust in your brother's eye and pay no attention to the plank in your own eye? 4 How can you say to your brother, 'Let me take the speck out of your eye,' when all the time there is a plank in your own eye? 5 You hypocrite, first take the plank out of your own eye, and then you will see clearly to remove the speck from your brother's eye.

I guess I'm ok at pointing out things in others' lives that aren't necessarily visible to them. Am I being critical of them? My question is what is the obvious thing (lacking/needing attention/etc.) in my own life that's not so obvious to me? In addition to that, are the things I see in others things that have been spiritually discerned such that I should be extra careful whether to share them with that person, or am I just judging myself better than them in some way, shape or form?