Don’t Stop Saving

Don and Tom take on Elon Musk’s claim that AI will make retirement saving obsolete, pushing back hard on the idea that technology or billionaires will somehow fund everyone’s future. They examine why universal basic income is politically and mathematically unrealistic, remind listeners that past tech revolutions didn’t magically create widespread wealth, and reinforce the importance of steady, diversified investing. The episode also tackles listener questions on HSAs, 529 rollovers, taxable account strategy, and tax efficiency, while weaving in commentary on work, purpose, behavior, and—once again—the ongoing menace of gas-powered leaf blowers.

0:04 Fear of AI and its supposed impact on money and jobs

1:52 Elon Musk’s claim that retirement saving will become irrelevant

2:59 Why billionaires don’t like sharing wealth

4:29 Historical tax rates and wealth distribution

6:21 Business Insider survey: 94% still plan to save

8:45 Why tech revolutions don’t eliminate financial risk

9:59 Work, purpose, and retirement psychology

10:33 Universal basic income math and tax reality

11:54 Luddites and historical job displacement

12:55 Listener questions segment begins

13:18 HSA invested in Fidelity target-date fund

17:38 Overfunded 529 plans and Roth rollover rules

20:45 Taxable account strategy and balanced funds

23:28 Asset location and tax efficiency

24:49 Finding fund returns on Morningstar

25:46 Tom’s Scottsdale meetings

26:45 War on gas-powered leaf blowers