Billionaire Elon Musk believes that saving for retirement will be irrelevant in the future to come, as a “high universal income” would ensure abundant availability of resources for all classes of the population.
The Tesla and SpaceX owner’s remarks came during the ‘Moonshots with Peter Diamandis’ podcast, where he claimed that people should not worry about saving their wealth for a retirement that may be 10 to 20 years from now.
“Don’t worry about squirreling money away for retirement in 10 or 20 years… If any of the things that we’ve said are true, saving for retirement will be irrelevant,” Musk said.
Musk, currently the world’s richest man, believes that the advances in artificial intelligence, robotics and energy would super-charge productivity, resulting in “abundance” of resources. There will be “universal high income” granted to all, he predicted.
Anyone will be free to have “whatever stuff they want”, ranging from “better medical care” to learning anything “for free”.