Troublesome English word pairs -- precede or proceed?

Will the speech precede collecting the proceeds?


Precede means "to go before."
E.g.  All the tests will precede the surgery


Proceed means "to go on."  
E.g.  Please proceed with your presentation.


We use Proceed (with the emphasis on the first syllable "pro") in the plural "proceeds" to mean profits or income received by an individual or organization from a sale or charitable event.
E.g.  We will use the proceeds from the white elephant sale to benefit the Humane Society.