Should You Tap Retirement Savings to Fund College? There are three things to consider before dipping into retirement savings to pay for college. Share | Related Content Raise Your Retirement Income Retirees look for ways to convert savings and investments into regular income. One option to consider is an annuity. Split Annuity Strategy Here's one strategy that combines two different annuities to generate income and rebuild principal. Investment Strategies for Retirement Investment tools and strategies that can enable you to pursue your retirement goals.