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 Potential Income from an IRA Estimate your monthly and annual income from various IRA types. Keep Your Umbrella Handy Umbrella liability can be a fairly inexpensive way to help shelter current assets and future income from the unexpected. Volunteering in Retirement For many, retirement includes contributing their time and talents to an organization in need.