Elon Musk Claims People Won’t Need Retirement Savings Because of AI: ‘It Won’t Matter’

There’s no need to worry about saving enough money for retirement, according to billionaire Elon Musk, because the robots have it covered.

“Don’t worry about squirreling money away for retirement in 10 or 20 years,” Musk, 54, said in a resurfaced interview on the Moonshots with Peter Diamandis podcast. “It won’t matter.”

The world richest man — as of April 2026, Musk’s net worth tops out at over $800 billion — explained that the continued advancements of artificial intelligence (AI) would increase productivity by massive amounts.

“Anything short of shaping atoms, AI can do probably half or more of those jobs right now,” Musk continued. “I’m confident by the year 2030, AI will exceed the intelligence of all humans combined.”

The X owner predicts that due to the advancements of AI, people will be able to receive better healthcare and will remove any limits on goods, services, schooling and more.

“Let’s not worry about growing the money supply,” Musk explained. “It won’t matter because the output of goods and services actually will grow faster than the money supply.”

However, the tech exec is nearly alone in his optimism about retirement compared to most financial advisors.

According to a report from MSN published on Monday, April 27, Northwestern Mutual’s 2026 study found that Americans need to save roughly $1.46 million to retire and live a comfortable life – up $200,000 from last year alone. Experts point to inflation, longer lifespans, rising healthcare costs and ongoing concerns about Social Security as some of the main reasons behind the jump.

With the typical savings at just $87,000, the growing gap is prompting many people to reconsider their retirement plans.