Elon Musk, never one to shy away from bold predictions, has again upended conventional wisdom—this time, taking aim at the very idea of saving for retirement. In a recent appearance on the Moonshots with Peter Diamandis podcast, the Tesla and SpaceX CEO declared that the age-old practice of squirreling away money for the future is on the verge of becoming obsolete. Why? According to Musk, the world is hurtling toward a technological revolution so profound that it will render money, jobs, and even the concept of scarcity irrelevant.
Musk’s vision, as detailed on January 12 and 13, 2026, is nothing short of radical. He described an impending “supersonic tsunami” of artificial intelligence and robotics that will, in his words, “surpass the intelligence of all humans combined” by 2030. The entrepreneur, whose net worth is estimated at well over $700 billion, believes we are fast approaching a world where humanoid robots will outnumber humans, and AI will be capable of performing at least half of all existing jobs—especially white-collar ones. “Anything short of shaping atoms, AI can do probably half or more of those jobs right now,” Musk asserted on the podcast, as reported by multiple outlets, including Fortune.
But it’s not just about replacing jobs or outsmarting humanity. Musk sees these advances leading to productivity increases so massive that they will outstrip “what people possibly could think of as abundance.” In this world, he claims, people won’t just receive a universal basic income—they’ll enjoy what he calls a “universal ‘you can have whatever you want’ income.” The link between individual wages, personal savings, and living standards, he argues, will simply dissolve.
“Don’t worry about squirreling money away for retirement in 10 or 20 years,” Musk told listeners. “It won’t matter.” He doubled down on this claim, stating that “saving for retirement will be irrelevant” and that soon, “the future will bring abundance.” According to Musk, within five years, AI will enable everyone to access “better medical care than anyone has today.” Goods and services will be so plentiful that “there will be no scarcity,” and educational opportunities will be unlimited. “You’ll be able to learn anything you want,” Musk added, painting a picture of a society where the barriers to health, knowledge, and material comfort have all but vanished.
This isn’t the first time Musk has forecast a seismic shift in the nature of work. At the U.S.-Saudi Investment Forum in November 2025, he compared the future of work to leisure activities like playing sports or video games—pursuits chosen for enjoyment, not necessity. “If you want to work, [it’s] the same way you can go to the store and just buy some vegetables, or you can grow vegetables in your backyard. It’s much harder to grow vegetables in your backyard, and some people still do it because they like growing vegetables,” Musk explained. In his view, within 10 to 20 years, work will become entirely optional.
Yet, for all his optimism, Musk is not blind to the potential pitfalls of this brave new world. He cautioned that a society enjoying a universal high income could face unexpected consequences. “If you actually get all the stuff you want, is that actually the future you want? Because it means that your job won’t matter,” he mused. Musk warned of a possible “crisis of meaning” as traditional work loses its significance, and he acknowledged that the transition to this future will be “bumpy” and fraught with obstacles. “I foresee major social unrest as the result of so much change in a short period of time,” he said on the podcast.
His predictions echo those of John Maynard Keynes, the famed economist who, in his 1930 essay “Economic Possibilities for Our Grandchildren,” imagined that technology would eventually enable a 15-hour workweek by 2030. While Keynes’ vision has yet to materialize, Musk’s forecasts suggest that the world may finally be on the cusp of such a transformation—albeit with robots and AI leading the charge.
Musk’s views arrive at a time when many Americans are struggling to save for retirement, let alone envision a future where money is irrelevant. According to a recent Federal Reserve survey, only 55% of American adults reported having a “rainy day” fund covering three months’ expenses—a figure that has slipped from its 2021 high of 59%. Even more striking, fewer than half of respondents said they could cover a $2,000 emergency expense from their savings. Surveys repeatedly show that a large share of Americans are behind on retirement savings or have little to nothing set aside for their post-work years.
For these individuals, Musk’s assertion that saving for retirement will soon be pointless may sound either like a welcome relief or a far-fetched fantasy. After all, the traditional advice from financial professionals has always been to save early and often, building a nest egg to ensure security in later life. Musk, however, is challenging this orthodoxy head-on. “One side recommendation I have is: Don’t worry about squirreling money away for retirement in 10 or 20 years. It won’t matter,” he repeated, as reported by Fortune and other outlets.
He even went so far as to suggest that the “future of currency” will be measured not in dollars, but in “wattage”—a nod to his long-standing interest in harnessing energy, particularly from the sun, to power society. This reflects Musk’s broader optimism about the power of AI and renewable energy to break barriers and create a surplus so vast that scarcity itself becomes a relic of the past.
Of course, the road to this utopian future is anything but certain. Musk acknowledged that the years ahead will be “full of change” and that the transition will be anything but smooth. “The road to the future I envision will be bumpy and filled with obstacles,” he admitted. Still, he remains steadfastly optimistic that technology will ultimately overcome these hurdles.
As the world watches the rapid advance of AI, robotics, and energy technologies, Musk’s predictions offer both hope and a challenge. Will society embrace a future where abundance is the norm and work is a choice? Or will the upheaval and loss of meaning he warns about lead to new forms of unrest and inequality? For now, one thing is clear: the conversation about the future of work, money, and retirement is far from over—and Musk, as ever, is right at its center.
For those still diligently saving for retirement, the message from Musk is both provocative and unsettling. Whether his vision will come to pass remains to be seen, but it’s a debate that promises to shape the coming decades—one technological leap at a time.
