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Although it is doubtful that Tesla CEO Elon Musk – long the richest person in the world forbes Detailed – There is a lot to worry about when it comes to a comfortable retirement plan, yet they can be looked to as a source of financial knowledge when it comes to money fundamentals.
Specifically speaking, Musk recently made headlines for perhaps a grandiose claim in relation to conventional retirement wisdom. He advised his audience, when he “Moonshots with Peter DiamandisPodcast, forget about having cash for retirement in 10 or 20 years — “It won’t matter,” Musk said, adding that the continued rollout of AI technologies will ultimately create an era of abundance that will provide “universal ‘you can have whatever you want’ income.”
Despite Musk’s glowing projections about the future state of retirement, he has provided some other financial information that may be of interest to retirees (and those who are or will soon be retiring) to consider if the more optimistic path does not pan out. let’s take a look.
Retirees should avoid excessive cash savings when inflation is high
one in the east x thread, Musk suggested that it is far better to hold assets like real estate, cryptocurrencies or stocks in companies that – at least in your mind – make good products rather than keeping your savings in cash.
At the same time, less than a year later, Musk also noted that it was important to have at least an emergency fund of cash on hand, as reported search for alphaRather than going “all in” on a single investment during periods of market volatility, especially for retirees or those nearby who need some liquidity in case of an emergency.
Don’t rely solely on Social Security (Musk calls it a ‘Ponzi scheme’)
Musk famously referred to Social Security as a Ponzi scheme during a 2025 appearancejoe rogan experience“Noting that increased life expectancy and low birth rates were creating an untenable financial situation, the Tesla CEO suggested that the situation was only getting worse.
While this may not affect today’s retirees too much, those who have a few (or several) years left before entering retirement might heed his advice, building up other support in the interim — hopefully without resorting to Musk’s earlier life strategy of relying solely on beans, hotdogs, rice, and oranges, as he said in one episode. startalk.