Elon Musk: Stop worrying about retirement savings for the next 10 to 20 years—it’s not important at all. The only logic behind the traditional pension system is the assumption that goods and services will remain 'scarce' in the future. But AI and robots are rapidly driving the physical cost of labor toward zero. When production and service costs approach zero, the physical price of goods will collapse as well: In the past: You saved money to buy scarce labor and resources after losing your ability to work. In the future: If automation can handle everything, the paper money you’ve saved will lose its original value logic in the face of abundant resources. Source: (YouTube Peter H. Diamandis)