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 Raise Your Retirement Income Retirees look for ways to convert savings and investments into regular income. One option to consider is an annuity. Traditional vs. Roth IRA One or the other? Perhaps both traditional and Roth IRAs can play a part in your retirement plans. Retirement Plan Distributions There are a number of ways to withdraw money from a qualified retirement plan.