That's a difficult question to answer, like the question, "when will I use the ability to understand big words, read sophisticated prose, or follow complex logical arguments?" The answer depends on what kind of life you lead--a challenging one or a simple one.
I think ivan_ah has it right. You can't seriously work with numbers--any numbers--without algebra. Arithmetic isn't enough. One needs to know how to rearrange equations in order to validate or explore, e.g., a simple statistical claim that a politician or marketer makes. Or to repurpose an equation for another task. Any professional in any field should find themselves doing that on a regular basis, otherwise they're just echoing whatever they're told and not adding much value.
OTOH, you can get really far in this world by just echoing and passing on whatever you're told. So algebra isn't needed any more than taking an interest in social studies is needed to be able to vote or even become President. While algebra and social studies are prerequisites for being a good citizen, being a good citizen isn't a prerequisite for much of anything, though I'd like to think it still makes success in life more likely.