Originally Posted by drbobguy

I wouldn't count them either. As others have said the value varies widely. You can say miles are worth $X but when push comes to shove, if there's no availability, or a program is devalued, you might not get even close to the value you thought they were worth.

The whole fun part of the miles game to me is that they feel like they're "free." Of course I invest time in this as a hobby, but it doesn't feel like work, and while they have value, it is value that can only be redeemed through travel and experiencing the world. It's a great compliment to a solid personal financial foundation, but it can't be a replacement for one.