Should You Tap Retirement Savings to Fund College? There are three things to consider before dipping into retirement savings to pay for college. Share | Related Content Preparing For the Ultimate Vacation Make your retirement as exciting as your next vacation. Retirement Traps to Avoid Beware of these traps that could upend your retirement. Annuity Comparison This calculator compares a hypothetical fixed annuity with an account where the interest is taxed each year.