[TGoldman]

In general, yes you should pay off your high interest debts before using the money for investments. However, you should also consider the fact that retirement investment accounts that offer favorable tax shelters such as the 401(k) or Roth IRA have maximum yearly contribution limits. It doesn't make much sense to me to devote 100% of your money towards your debts, only to be flooded with additional cash in two years once all of your debts are payed off. You will have lost two years worth of tax sheltered retirement contributions. Since you didn't give specific dollar figures, it's hard to say what's best for your exact siatution. Consider your exact financial situation and possibly consider putting about 80% of your money towards your debts, and the other 20% towards a tax-exempt retirement account. In a few years, your debts will be gone and you'll already have a start on your retirement.