Musk Says AI Revolution Could Make Retirement Savings Obsolete

Musk Says AI Revolution Could Make Retirement Savings Obsolete

Elon Musk has predicted that saving for retirement may become unnecessary in the future, citing what he described as a coming “supersonic tsunami” of artificial intelligence and robotics that could usher in an era of abundance and eliminate economic scarcity.

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Speaking on the Moonshots with Peter Diamandis podcast, the Tesla and SpaceX chief executive said people should not stress about building retirement savings decades in advance, arguing that rapid technological change will fundamentally alter how society works.

“Don’t worry about squirreling money away for retirement in 10 or 20 years. It won’t matter,” Musk said, adding that he is “more optimistic” than most about the impact of emerging technologies.

Musk’s view is rooted in his belief that advances in AI, robotics and energy systems will dramatically boost productivity. He predicted that by 2030, artificial intelligence could surpass “the intelligence of all humans combined” and that humanoid robots would eventually outnumber humans on Earth.

According to Musk, traditional employment will also be reshaped, with white-collar jobs likely to be replaced first. He said AI is already capable of performing a significant share of tasks across many professions, leading to productivity gains that exceed current notions of economic abundance.

Rather than a universal basic income, Musk envisaged a future of what he called a universal “you can have whatever you want” income, where access to goods, services and opportunities is no longer constrained by individual wages or savings. In such a scenario, he argued, the conventional link between work, income and living standards would no longer apply.

Musk also claimed that within five years, AI could help deliver medical care superior to what is currently available, while removing limits on access to education, goods and services.

The comments echo his earlier remarks that work could become “optional” within the next 10 to 20 years, with jobs pursued more for personal fulfillment than survival. Speaking previously at the U.S.–Saudi Investment Forum, Musk compared future work to hobbies such as gardening, undertaken by choice rather than necessity.

However, Musk acknowledged potential risks in a post-work society. He warned that even with material abundance, people could face a crisis of purpose and meaning, potentially leading to social unrest.

“If you actually get all the stuff you want, is that actually the future you want?” Musk said. “Because it means that your job won’t matter.”

Musk Says AI Revolution Could Make Retirement Savings Obsolete