Elon Musk says saving for the long term is useless, but experts urge caution
Billionaires associate the abundance brought by AI, energy and robotics with the end of the need to save, but experts interviewed by Business Insider recommend keeping reserves.
BY THE X-TRADER NEWS NEWSROOM · REPORTING FROM O ANTAGONISTA · 2 MIN
Elon Musk stated, in a post on X published on 10/29/2026, that saving money for the distant future would be unnecessary. According to O Antagonista, who gave the statement the title “It’s useless”, the justification is an era of super-intelligent abundance. With an estimated net worth of almost US$1 trillion, Musk has an opinion that attracts the attention of those who invest.
The position is not new. In a January podcast, the year of which the report does not indicate, Musk said that saving for retirement in the next 10 to 20 years could no longer make a difference. The reasoning comes from a transformation driven by AI, energy and robotics, with effects on work, consumption and way of life, in addition to increasing productivity and falling production costs.
In another podcast, he associated robotics and space travel with a multi-planetary economy, a scenario in which traditional currencies would lose relevance. In practice, saving for retirement over the 10 to 20 year horizon he mentioned would no longer be as useful as it is today.
On the other hand, according to O Antagonista, which cites Business Insider, seven experts in personal finance and AI recommend that people continue saving for retirement. The central reason is uncertainty about when, how and if the transformation will occur. The experts, who are not named, point out three risks: abundance has no guaranteed deadline and depends on technological advances; the financial reserve serves unexpected expenses, emergencies and economic instability; and automation and AI could change the job market before the benefits of abundance emerge.
The debate, therefore, is less about technology and more about time. If the transformation is confirmed at the pace that Musk describes, long-term savings would lose their usefulness. If it takes time, or is accompanied by a disruption in employment, the reserve continues to be the cushion described by the experts. The report does not provide data that allows us to measure which scenario is most likely.
What changes for the investor
For those who operate the stock market, Nasdaq, interest rates and the dollar, the statement is, above all, the personal opinion of an executive, with no connection to market decisions or the price of any asset mentioned in the report. The possible effect is in the debate: topics such as AI, energy and robotics already occupy space in discussions about technology companies, and the rhetoric of abundance can reinforce this narrative. The divergence between the two sides also separates two financial functions: the reserve covers unforeseen events, while exposure to productivity issues depends on a deadline that neither the billionaire nor the experts interviewed can guarantee. This article does not provide a purchase or sale recommendation, nor a price forecast.
Automatically translated from Portuguese.
