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Elon Musk: Why Saving for Retirement May Be Pointless in the Next 20 Years

Published January 15, 2026, 11:21
Elon Musk: Why Saving for Retirement May Be Pointless in the Next 20 Years

Elon Musk, CEO of Tesla and SpaceX, stated that saving for retirement may become pointless in the next 20 years due to rapid advancements in artificial intelligence, energy, and robotics. He predicts a condition of “abundance” where everyone will be able to have a high income. Musk believes that in such a future, saving for retirement will be irrelevant, as there will be unrestricted access to goods and services. He envisions a world with better healthcare for all and free education on any subject. However, he warned that the transition to this utopian model will be “turbulent,” with social unrest and a potential loss of meaning in life, as work may lose its value. Musk's predictions contrast with the economic reality experienced by many Americans, who are struggling with inflation, high interest rates, and sluggish wage growth. Access to basic needs, such as education, healthcare, housing, and starting a family, remains difficult for many.