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Forbes: 10 Things to Do When You Win the Lottery

4. Pay off all your debts.

As I wrote in my post, “The Best Investment Advice I Ever Received,” there is no better investment than paying off debts. Whether it is credit card debt or a mortgage, your rate of return equals the interest rate on the loan. With today’s abysmal yields on relatively secure investments like CDs and Treasurys, that’s especially true. When you’ve paid down a dollar of debt, that’s a dollar you no longer owe. When you invest a dollar, you can’t be sure whether it will grow or shrink.

(iStock)

More from Forbes:
The Biggest Lottery Winners Ever
15 Top Foreign Retirement Havens
The 25 Best Places to Retire



The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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