The “value” of mile or point is based on many factors, including but not limited to ease and cost of acquisition, ease and cost of redemption, $$ cost of airline tickets and hotel rooms, cost of living and inflation, and (essentially incalculable) urgent/emergency needs.

Now that all, particularly 1st or Biz Class, airlines seats are so much more astronomically $$ expensive relatively less expensive (even accounting for devaluations) judiciously saved points or miles are “worth” much more. It’s impossible to calculate the value of enough judiciously saved points or miles to fly a family, perhaps some (elderly or infirm) in 1st or biz, across the country on short notice (e.g. for a funeral) when that same family would be challenged to afford the $$ for the same flights. Many people are much more appreciative of a 1st or Biz Class seat as they age; in my 30’s and 40’s a long haul Biz Class seat was a luxury, now in my 60’s it’s essentially a required deal breaker. Similar to $$, which everyone should be saving (for retirement among other things) despite ongoing devaluation, points and miles should be judiciously saved until an age when one has more time and ability to travel and earning opportunities (for $$ and points & miles) will undoubtedly decrease.

I maintain that the judicious saving strategy was and remains prudent and brilliant.