Tesla and SpaceX CEO Elon Musk have talked about a major plan for the future. He thinks people will no longer be poor and will not have to worry about saving money. Many people have talked about what he said because it goes against how we think about work and money these days.
Elon Musk was reacting to an investor’s post on X (formerly Twitter) about the new Trump accounts plan. Dalio praised the effort and said it was a move by both parties to help young Americans learn about money and start investing early.
Musk replied to Dalio’s message, It’s a nice thing for the Dells to do, but there won’t be any poverty in the future, so there’s no need to save money.
Everyone will make enough money
Elon Musk thinks that there will be a universal high income in the future. In other words, everyone would make enough money to live well. It would be easy for everyone to pay their bills and meet their basic needs. Musk thinks that everyone will have a high income, not just enough to live, which is different from how basic income is usually thought of.
When people talked about teaching people how to save money, he agreed with them. Putting money away is helpful for him now, but he thinks it might not be important in the future.
The tech will do most of the work
Elon Musk says that everything will be different because of new technology. Machines with AI and robots will do most of the work that people do now. Things will be made by machines faster and for less money. A lot of things could get cheap and easy to get because of this.
Elon Musk thinks that maybe people don’t need normal jobs to live. People could choose not to work instead of having to. Some people work because they want to, not because they need the money.
Why might it not matter to save money?
Elon Musk’s biggest claim is that people may not need to save money in the future. There may be no need to worry about money if everyone makes enough and their basic needs are met. Everyone might be able to get things like food, shelter, and medical care.
This thought is not like the world we live in now, where saving money is important for future and emergency needs. Big changes in the way society works are needed for Elon Musk’s plan to come true.
Why might it not matter to save money?
Elon Musk’s biggest claim is that people may not need to save money in the future. There may be no need to worry about money if everyone makes enough and their basic needs are met. Everyone might be able to get things like food, shelter, and medical care.
This thought is not like the world we live in now, where saving money is important for future and emergency needs. Big changes in the way society works are needed for Elon Musk’s plan to come true.
