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? Eight Mistakes That Can Upend Your Retirement There are common mistakes you can avoid when saving for retirement. Annuity Comparison This calculator compares a hypothetical fixed annuity with an account where the interest is taxed each year.