You live only once.
you may not live to enjoy your miles tomorrow.

Last year I threw in two F class tickets for my wife and me and a 1 biz class for my + "baby" daughter. - Round trip to Europe and within Europe on LH to Paris and TLV. I burned 180,000 miles mostly for upgrades, because a trip to Europe is a good source of accruing paid miles. Went down from 350,000 to 170,000. Then I had two emergencies and burned another 80,000 last summer.
I got concerned ! Now I am back to 260,000. Feel better, but plan on using miles as gifts for friends, family and my upgrades when/if necessary.