Why Elon Musk says saving for retirement will be 'irrelevant' in the next 20 years

Group 1 - Elon Musk suggests that saving for retirement may become irrelevant due to future advancements in AI, energy, and robotics that could create an abundance of resources for everyone [1][5] - Musk envisions a future where everyone has access to superior medical care and education, with no scarcity of goods and services [2][5] - The transition to this envisioned future may be challenging, potentially leading to social unrest and a loss of purpose for individuals [2][3] Group 2 - Despite Musk's optimistic predictions, the current reality for many Americans includes high inflation, elevated interest rates, and stagnant wage growth, leading to an affordability crisis [4] - Many individuals feel unable to afford essential services such as higher education, quality healthcare, and home ownership, making a comfortable retirement seem unattainable [4]