Elon Musk says putting money aside for retirement could become unnecessary if his vision of the future comes true. The Tesla and SpaceX CEO believes rapid advances in AI, energy, and robotics will create an era of abundance, where everyone has access to whatever they need — from top-tier healthcare to free education.
Speaking on the Moonshots with Peter Diamandis podcast, Musk said people shouldn’t worry too much about saving for retirement over the next 10 to 20 years, arguing that money may matter far less in a world of extreme productivity. If these technologies deliver as expected, he says, traditional financial planning could lose its relevance.
Musk imagines a future where scarcity disappears and a kind of “universal high income” becomes possible. In that world, anyone could get the goods they want, receive better medical care than exists today, and learn anything for free.
Still, he warned the path there won’t be smooth. The transition could involve social unrest and a deeper challenge: finding meaning in a world where work is no longer essential.
While Musk’s track record of reshaping industries gives weight to his predictions, his outlook contrasts sharply with today’s reality for many people. Rising living costs, slow wage growth, and high interest rates have made basic goals — education, healthcare, homeownership, and retirement — feel increasingly out of reach.
That gap makes his vision of abundance sound inspiring to some, but risky to others. If people stop saving based on that optimism and the future doesn’t arrive as promised, they could end up unprepared when retirement actually comes.