In a recent appearance on the “Moonshots with Peter Diamandis” podcast, Elon Musk, the world’s richest individual with a net worth surpassing $600 billion (and estimates reaching as high as $720 billion depending on market fluctuations), delivered a provocative piece of financial advice: stop worrying about saving for retirement.
“One side recommendation I have is: Don’t worry about squirreling money away for retirement in 10 or 20 years,” Musk stated during the episode, which aired in early January 2026. He added, “It won’t matter. If any of the things that we’ve said are true, saving for retirement will be irrelevant.”
Musk’s reasoning centers on his optimistic — and highly speculative — vision of the near future. He predicts that breakthroughs in artificial intelligence (AI), robotics, energy production, and automation will drive unprecedented productivity gains. This technological surge, he argues, will usher in an era of extreme abundance where goods, services, housing, healthcare, and entertainment become essentially free or universally accessible to everyone.
In this post-scarcity world, Musk envisions a system of “universal high income” — a step beyond traditional universal basic income (UBI) — ensuring that people can have “whatever stuff they want.” He described advanced medical care becoming available to all within years and a complete elimination of scarcity for basic needs. “The good future is anyone can have whatever they want,” he emphasized.
Host Peter Diamandis, while engaging with the idea, acknowledged potential challenges in the transition, including how money would still circulate in an economy where AI and robots replace much of the human workforce. Musk suggested that corporate profits from limitless productivity could eventually support widespread redistribution, though he appeared reluctant to detail heavy government involvement.
The comments quickly sparked widespread debate and criticism. Many observers highlighted the stark contrast between Musk’s personal financial security — bolstered by massive stakes in Tesla, SpaceX, and xAI, as well as ongoing legal battles over a potential $139 billion compensation package — and the advice given to everyday people facing real economic pressures.
Critics argue that the statement feels tone-deaf amid ongoing challenges like inflation, rising living costs, housing shortages, and widespread retirement insecurity. Surveys consistently show that a majority of Americans are not on track for a comfortable retirement, with many worried about outliving their savings, healthcare expenses, and the future of programs like Social Security (which Musk has previously criticized as unsustainable).
Outlets such as Business Insider, Gizmodo, Benzinga, and others framed the remarks as bold but risky, warning that following this guidance could leave individuals vulnerable if Musk’s timelines for AGI (artificial general intelligence) and transformative abundance prove overly optimistic — a pattern seen in some of his past predictions.
Musk himself hedged slightly, noting that the path to this abundant future could be “bumpy,” with risks of social disruption, job displacement, and a loss of purpose for many during the transition period.
Traditional financial experts continue to stress the importance of building emergency funds, contributing to retirement accounts like 401(k)s and IRAs to take advantage of tax benefits, and diversifying investments. Even if technological abundance arrives, personal savings offer independence, security, and flexibility in the meantime.
Musk’s vision paints an exhilarating picture of humanity’s potential future, driven by rapid innovation. Whether it represents revolutionary foresight or disconnected billionaire optimism remains a matter of intense discussion — but for most people, the prudent choice is likely to keep planning responsibly while watching how these bold predictions unfold.
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