There are times when you listen to something and think, “Huh?”
“Don’t worry about squirreling money away for retirement in 10 or 20 years,” Elon Musk, the world’s wealthiest man, recently said on the “Moonshots with Peter Diamandis” podcast. “It won’t matter.”
The Tesla and SpaceX CEO was adamant that people like you and me shouldn’t be too concerned about socking away savings for after those paychecks grind to a halt.
I am all for the future being a better place for all of us. But pardon me if I don’t toss my retirement planning overboard on the advice of a man whose wealth could last for hundreds of generations.
Financial advisers (who are trying to help people stay afloat for merely one lifetime) largely agree.
“As far back as we can trace human civilization, there has always been some form of ‘money’ for exchanging goods, from shells and beads, to gold and silver, to today’s complex and increasingly digital monetary system,” said Conor Kelly, partner and senior financial adviser at Prime Capital Financial and self-described Musk fan. “It’s hard to imagine money simply disappearing in our near-term future.”
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