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 Question Thank you! Oops! Related Content A Bucket Plan to Go with Your Bucket List Longer, healthier living can put greater stress on retirement assets; the bucket approach may be one answer. Tax Freedom Day Assess how many days you'll work to pay your federal tax liability. What If You Get Audited? The chances of an IRS audit aren't that high. And being audited does not necessarily imply that the IRS suspects wrongdoing.