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Elon Musk advises people to stop saving for retirement, claiming AI will create an era of abundance where money is irrelevant—a prediction met with skepticism by economists.

Elon Musk has given the world’s most dangerous—or visionary—financial advice. Speaking on the "Moonshots" podcast, the world’s richest man told listeners to stop saving for retirement because, in his view, Artificial Intelligence will soon render money obsolete.
"Don't worry about squirreling money away... it won't matter," Musk told host Peter Diamandis. He predicts that by 2030, AI will have solved the cost of labor, leading to a world of "universal high income" where goods and services are essentially free.
Musk argues we are at the "top of the rollercoaster" before a plunge into a post-scarcity economy. He claims AGI (Artificial General Intelligence) will be achieved in 2026, triggering this shift. "The cost of intelligence has gone to nothing," he stated.
Musk’s comments highlight the disconnect between Silicon Valley utopianism and the economic grind of daily life. While he dreams of a Star Trek future, most people are just trying to survive the present.
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