Should You Tap Retirement Savings to Fund College? There are three things to consider before dipping into retirement savings to pay for college. Share | Have A Question About This Topic? Address Thank you! Oops! Related Contents The Power of Tax-Deferred Growth Why are 401(k) plans, annuities, and IRAs so popular? What Is an Annuity? Annuities are versatile tools that can help you save for retirement and generate income in retirement. Inflation & Retirement Estimate how much income may be needed at retirement to maintain your standard of living.