Elon Musk Says Long-Term Saving Is 'Pointless' Given Future Abundance
By: Theron Mohamed (Business Insider)
S E E D E D C O N T E N T
ByTheron Mohamed You're currently following this author! Click to unsubscribe from email alerts. FollowElon Musk is the CEO of Tesla and SpaceX.Apu Gomes/Getty Images 2026-10-29T09:58:52.446Z Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.Have an account? Log in.
Elon Musk says it's not worth saving for the long term, as nest eggs won't matter.
"Saving money for the distant future is pointless with the advent of super intelligent abundance," Musk said in an X post on Thursday, doubling down on one of his most polarizing predictions.
The Tesla and SpaceX CEO was replying to a user who said they weren't stressing over their "questionable financial decisions" because a future of abundance meant "most of it won't matter in a few years anyway."
@battleangelviv Saving money for the distant future is pointless with the advent of super intelligent abundance
— Elon Musk (@elonmusk) October 29, 2026
The world's richest person — who has a nearly $1 trillion net worth — has previously advised against saving for decades to come.
"Don't worry about squirreling money away for retirement in 10 or 20 years," Musk said during a podcast episode released in January. "It won't matter."
"If any of the things that we've said are true, saving for retirement will be irrelevant," he added.
Musk said at the time that he expects progress in AI, energy, and robotics to supercharge productivity, resulting in plentiful resources so that "anyone can have whatever stuff they want."
In that world, he continued, everyone would have access to "better medical care than anyone has today," there would be "no scarcity of goods and services," and "you can learn anything you want about anything for free."
Business Insider spoke to seven personal finance and AI experts about those comments, and they all agreed people should keep saving for retirement given the risk that Musk may be wrong.
Musk laid out an even more utopian vision on a recent podcast, predicting that advances in robotics and space travel would lead to a multiplanetary economy, at which point "money becomes irrelevant" and "conventional currency will not matter."
Several other tech leaders have predicted AI and other technologies will transform the way we live.
Microsoft cofounder Bill Gates said on a recent podcast episode that AI will lead to "true abundance" with robots able to "build houses, grow food, do surgery."
But he also warned the next two decades will be "as tumultuous a period as there's been in human history," as technological advances will mean "none of the things that human labor provides to the economy will be necessary for most goods and services."
Similarly, Musk has predicted a "bumpy" transition to a brighter future. He's suggested government checks for all as the best solution to AI-fueled job destruction.
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So greed, thievery, and exploitation will disappear because of super-intelligence ? One could just as easily say they will be exacerbated.
Super intelligence will lead to James Bond villains more than it will lead to Mother Teresas
Please don't encourage the idiot and chief. Artificial Intelligence, not super intelligence.
Probably best not to follow that advice
Only if I had FU money.
Yes, looks like Musk is buying into classical Marxism where Marx envisioned an idealized world where technology will be able to provide for everyone's needs.
I agree, one should ignore the advice of the richest person on the planet who does not give one shit about the masses.
I think what Elon is saying is that everyone should just go out and buy a cyber truck right now.
I don't think the US is going to make a shift from Capitalism to a Communist utopia in the next two decades - with, or without, AI.
Here's the world's riches guy who could single-handedly end world hunger and does nothing. He thinks we can afford to save money? He'll probably just blow us all up anyway.
Somebody should go right to the 'mouth' of abundance-Elon Musk and ask him: Has money bought you true happiness and freedom from 'wanting'?
The richest stupid person in the world. Bar none.