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 What Smart Investors Know Savvy investors take the time to separate emotion from fact. Asset Allocation Consider how your assets are allocated and if that allocation is consistent with your time frame and risk tolerance. When Life Insurance Becomes Taxable Life insurance proceeds are generally tax-free. But not in all cases.