1 pay off your debt card loans 2. Seek a temporary safe haven in short-term investments.After you've eliminated credit card and other high-interest debt, park what's left in a safe haven. Don't feel pressured to immediately put the money into riskier investments. Take your time. Put it into a Certificate of Deposit (CD) or Treasury bill. Before you make a specific decision among the three alternatives, compare interest rates and term lengths so that you can get the biggest bang for you buck over a time period you're comfortable with.If you're looking for a CD, be sure to shop around. Compare products from local banks and credit unions, which compete to offer the most attractive CDs. Also check with your broker and do some homework on the Internet, where you can easily find lists of high-yielding CDs.STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks with serious upside potential in the next 12-months. Learn more.As for Treasury bills, here's a tip that many people don't know: You can save money by acquiring T-bills directly at no cost from the U.S. Treasury, thereby circumventing intermediaries such as a brokerage firm or bank that would charge you a fee.3. Maximize your retirement plan contributions.Must Read: How to Invest in Cuban Cigars, Rum and Real EstateIf you haven't been able to invest fully every year into your Individual Retirement Account (IRA) or 401(k) plan, now is your opportunity to do so. It's important for your long-term financial health that you invest in your future security (while you simultaneously enjoy tax deferrals and savings).4. Pay down your mortgage.Consider making extra payments against your home mortgage, which would greatly enhance your retirement situation. If you have a home equity loan, consider paying it down -- or paying it off. Regardless, a sure route to bankruptcy is buying a second home that you can't afford.
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