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? Name Email Address Message Thank you! Oops! Related Content Rightsizing for Retirement What does your home really cost? What Is an Annuity? Annuities are versatile tools that can help you save for retirement and generate income in retirement. Annuity Comparison This calculator compares a hypothetical fixed annuity with an account where the interest is taxed each year.