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 The Power of Tax-Deferred Growth Why are 401(k) plans, annuities, and IRAs so popular? Three Key Questions to Answer Before Taking Social Security When to start? Should I continue to work? How can I maximize my benefit? Annuity Comparison This calculator compares a hypothetical fixed annuity with an account where the interest is taxed each year.