Elon Musk warns retirement planning may become ‘irrelevant’ in 20 years

While saving for retirement has long been a foundation of personal finance, Elon Musk believes that may not hold true in the decades ahead.

Speaking on the Moonshots with Peter Diamandis podcast, the Tesla and SpaceX CEO suggested people may not need to worry about putting money aside for retirement in the future. 

“Don’t worry about saving for retirement in 10 or 20 years,” Musk said, adding that it “won’t matter” if rapid technological change unfolds as he expects.

Musk outlined a future shaped by major advances in artificial intelligence (AI), robotics, and energy, which he believes could dramatically boost productivity and lead to widespread abundance. 

In such a scenario, he said society could move toward a form of “universal high income,” where basic needs are easily met.

“The good future is one where anyone can have whatever they want,” Musk explained. 

He added that healthcare, education, and goods could become widely available at little or no cost.

However, the tech billionaire cautioned that the path to that future would not be smooth. He warned of a turbulent transition marked by social disruption and a potential loss of purpose as traditional jobs become less important. 

“If your job no longer matters, that raises deeper questions about meaning,” he said.

Despite Musk’s optimistic vision, the idea contrasts sharply with current economic realities.