Elon Musk says long-term saving is 'pointless' as he expects a future of abundance

Elon Musk is the CEO of Tesla and SpaceX. Apu Gomes/Getty Images 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.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 means "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 Musk laid out his 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."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." Read next Business Insider tells the innovative stories you want to know Business Insider tells the innovative stories you want to know Business Insider tells the innovative stories you want to know Business Insider tells the innovative stories you want to know Theron Mohamed is a London-based correspondent on the International team at Business Insider. His coverage spans finance, investing, wealth, markets, and the economy.Theron joined BI in 2019 as a reporter at Markets Insider and rose to the rank of correspondent before moving to the Trending team then the broader International team. He previously covered tech, media, and telecom stocks for Investors Chronicle magazine and had a brief stint on the Financial Times' Data team. He interned at the Wall Street Journal in New York where he primarily wrote for Heard on the Street.Theron has freelanced for The Independent, The Telegraph, WIRED, and several smaller publications. He holds an undergraduate degree in geography from the London School of Economics, and a master's degree in journalism from Columbia University.Theron often covers Warren Buffett, Michael Burry, and other elite investors. He also writes about the world's wealthiest people and shares financial advice from all manner of rich and successful people.Email Theron at tmohamed@businessinsider.com and follow him on X @theron_mohamed. Finance Elon Musk Tesla More SpaceX AI Wealth Savings Billionaires