Former Google Engineer Says He Quit Retirement Saving Over AI Fears. Can You Live on the Average $2,095 Social Security Check?

Nate Soares says he has not added a dollar to his 401(k) in years because he believes humanity may not make it to retirement. Even if that view turns out to be wrong, skipping retirement savings can become costly quickly, especially when employer matching is left on the table.

Soares put it plainly on a podcast: “I do not save for retirement right now.” He added that he has a 401(k) from his time at Google, but has not contributed to it for a decade. The account remains open, but no new money has gone in during that period.

He made the remarks on The Most Interesting Thing in AI, according to Fortune. The program is hosted by The Atlantic’s chief executive, Nicholas Thompson, who asked Soares whether he thought there was more than a 50% chance humans would not be around in 10 years. Soares replied that, in his view, the odds were more than 50% that humanity would not have a decade left.

He was explicit about the kind of risk he sees: “I am not really an AI job apocalypse guy. I’m an AI kills all humans guy.” He also said, “I do everything I can to stop this eventuality. I don’t think it’s inevitable.” Fortune linked that outlook to his finances, reporting that he no longer saves because he believes AI will likely kill everyone before retirement age.

A Public Warning, and a Personal Financial Choice

The Machine Intelligence Research Institute lists Soares as its president and says he previously worked as an engineer at Google (NASDAQ:GOOGL | GOOGL Price Prediction) and Microsoft (NASDAQ:MSFT). Fortune reported that he left Google in 2014 to join MIRI, a Berkeley-based nonprofit. He also co-authored the book If Anyone Builds It, Everyone Dies with MIRI cofounder Eliezer Yudkowsky.

His logic is internally consistent: if you truly believe retirement will never arrive, saving for it does not seem necessary. The problem is the assumption itself. Soares is offering his own estimate, not a settled consensus. Futurism noted that “there’s no consensus that such a future is even possible, let alone probable.”

For anyone who expects to live long enough to retire, following that approach could be extremely expensive. Many people would end up relying on Social Security, and those payments are often smaller than expected.

The Average Retiree Check Is Smaller Than Many Assume

The Social Security Administration’s 2027 fact sheet says the estimated average monthly benefit for all retired workers is $2,095 before the cost-of-living adjustment. After a 3.6% increase, the January 2027 average rises to $2,170. These are national averages, not guaranteed individual benefits, and they do not apply specifically to Soares.

According to the SSA, the increase affects 76 million Americans who receive Social Security and SSI, with nearly 72 million Social Security beneficiaries seeing the adjustment in January benefits. That means a large number of households are living near that monthly amount.

By comparison, the Bureau of Labor Statistics said average annual household spending reached $81,905 in 2025.

The 2026 Trustees Report presents another concern. It projects that Social Security’s combined trust funds will run out in 2034. After that point, only 83% of scheduled benefits would be payable unless Congress takes action. Social Security was designed as a foundation, not a complete retirement plan.

Walking Away From a Match Can Be Costly

How much it costs to pause retirement saving often depends on employer matching. Fidelity’s Q4 2025 data shows an average employer contribution rate of 4.7%. In many plans, that money is tied to employee contributions, so reducing or stopping savings can mean losing part of the employer match.

Consider an employee earning $80,000 at that average contribution rate. The employer would add about $3,760 a year.

Left invested for 10 years at an assumed 6% annual return, that match could grow to roughly $49,560. That figure reflects only the employer’s contributions and does not include the worker’s own money.

Even without a match, stopping contributions still has drawbacks. You lose the tax advantages. Under IRS Publication 560, traditional 401(k) pre-tax deferrals and their earnings are generally tax deferred until withdrawal, while qualified Roth distributions can be tax free.

What to Review Before Cutting Contributions

• Check your expected benefit. Log in to your my Social Security account at SSA.gov and compare the projected payment with your monthly expenses. The difference is what your savings must cover.
• Know your plan’s match rules. Ask HR how much you need to contribute to receive the full employer match. Contributing too little can leave part of your compensation unused.
• خفض contributions before stopping altogether. If money is tight, a smaller contribution rate can preserve some tax benefits and maybe all of the match. If you are considering a major change, speak with a financial professional first.

Soares is living according to his own forecast. For everyone else, a better first step may be checking whether the next paycheck deduction is enough to capture the full employer match.