RT “RETIREMENT IS DEAD?” Elon Musk’s 20-Year Prediction Sparks Shockwaves: ‘Saving Will Be Irrelevant’
Elon Musk says retirement savings won’t matter in 20 years. (Image: @joni_askola/X)
Elon Musk has made a striking claim about the future of personal finance, suggesting that saving for retirement may soon become unnecessary. The billionaire entrepreneur believes that rapid advances in AI, robotics and energy will reshape society so deeply that traditional retirement planning will no longer matter.
Speaking on the Moonshots with Peter Diamandis podcast, Musk urged people not to worry too much about long-term retirement savings. He said, “My suggestion is not to stress about putting money aside for retirement over the next decade or two. It simply won’t be relevant.”
He went on to explain that if current technological trends continue as expected, the very idea of retirement planning could fade away. “If our predictions come true, then saving for retirement will lose its importance,” he added.
Musk, who is currently considered the wealthiest person in the world with a net worth estimated at over $600 billion, described a future transformed by major breakthroughs in artificial intelligence, clean energy and robotics. According to him, these technologies will dramatically increase productivity, allowing machines to perform most jobs faster, cheaper and more efficiently than humans.
As a result, Musk believes society could move towards a system where scarcity is no longer a major problem. In such a world, goods and services would be produced in vast quantities at very low cost. This, he says, could make it possible for everyone to receive a “universal high income”, ensuring a comfortable standard of living for people across all income groups.
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Elon Musk envisions a world where “anyone can have whatever they wish.” He predicted that within five years, healthcare could improve so much that everyone would have access to treatment better than what is available today. Education, too, would be completely transformed. According to Musk, learning about any subject would become free and accessible to all.
Despite his hopeful vision, Musk says the path to this future, however, would be “bumpy.” One of his biggest concerns is not economic, but psychological. Musk questioned how people would find meaning in a world where work is no longer necessary. He raised the concern, asking, “If you truly have access to everything you want, is that the kind of future you desire? Because it could mean your work no longer holds meaning.”
