As everyone has said, it's a subjective question. But since it's subjective here's my opinion. I like to have "a lot" of miles banked when I don't have my next 8-12 months of travel figured out. If I do already have that travel booked then I don't need as many as I would only need miles in an emergency. So my "a lot" figure changes.

Right now I have somewhere around 400k in RDM. I consider that "A lot" for my purposes. Why? Well because for my wife and I that means I could probably go just about anywhere in the world that I'd want to, if the opportunity presented itself. If friends were getting together anywhere in the world I could join them for free (most likely) as I have enough for two Aanytime awards to just about any destination, and it's likely I could get there in business or even first assuming availability. So I feel like I'm "covered" with a nice "bank balance" that keeps me flexible and able to take advantage if something pops up. Or someone gets sick in a far away place, or anything else. And if I'm planning leisure travel I have enough to get many places in F, and nearly all places in J. Depending on availability I could even force onto AA flights with no availability at double miles. Which might be a waste, but I *could* do it. So I feel like I've built up some great options which leaves me flexible.

As for domestic travel, I can get on any flight with open seats on short notice without making a serious dent in my miles balance. Which is also nice to know in case a real emergency comes up, say a relative in the hospital, and I want to leave tomorrow and flights to wherever they are are exorbitantly priced.

I may not do any of those things. Ideally I'll keep saving them until I can do another incredible overseas trip in J or F, perhaps on a OW award or a trip to Africa or Asia in F on a partner. Who knows.

But for a person who will likely travel only with my spouse I feel like i have "a lot" and when I do draw them down I'll make sure to work hard with partners and promos to build back up again.

So it depends on your travel patterns. If you have a large family it's not necessarily enough to feel comfortable. If you are solo you have enough to do almost anything you might want to do, though not necessarily with complete flexibility.

And I think every serious flyer or miles junkie should always keep enough reserve, in as many programs as possible, just to be able to get a non-capacity restricted domestic ticket on moments notice. I once saved over $1500 on a 350 mile flight (to a memorial service) by having an extra 50k miles I could easily spare and have not forgotten it. It's great peace of mind knowing that I won't have to face a really tough decision about being able to attend something important when it comes up.

That's my logic. You can have yours. Some value long haul premium class travel higher, some are interested in treating family or friends more. But having a bank with "a lot" of miles to me means that you're covered in nearly any situation you can imagine, and have enough to have some flexibility in a pinch. I always try to keep enough of a bank to make that possible. YMMV by that's mine. Happy flying. :D

Yes, 250K miles are alot to me. I used 250K miles last year for 2 first class flights to Europe. This was a trip that was planned only a couple of months ahead of time and I was still able to get the plan ahead award. I hope you have a great time whatever you decide to do with your great stash.

Give or take a few...

The variations are infinite, but a fair subset can be evaluated in one's head, quite separate from FlyerTalk.

It's one thing to find one award ticket, more stressful to find two, but four tickets, same flights, to holiday destinations at peak times is probably too much to hope for at saver award levels.

Why? Why can't you get three award tickets and buy your own or two of each? Would make it (a lot) easier to find award availability. Would also make it easier to reach or retain status for at least one of you.

There is no contradiction. Qualitatively you are right. However, the point is that to quantify the value you can't look at the price of a paid ticket unless you were actually planning to buy it.

For example, for 125,000 miles you can get a round-trip first class award JFK-NRT which currently prices out from $11,000 with restrictions up to $22,000 without. So, the value is at least $11,000, right? Wrong!

Now make a thought experiment: how much cash would they need to offer for your miles instead of the ticket for you to take the cash? That (highly subjective) amount is the value to you of your miles.

Good point, but to put it another way... if I were to offer you in cash, the full price of that F ticket to Asia -- would you take the cash or would you still take the flight? If you would take the flight then those miles really are worth $15K+ to you.

actually, that's an even better approach.

I have reconsidered my original position on this question. I have about 330K miles in my account.

Actually, now that I think about it... YES. 330K is quite a lot of miles. It's not like an investment portfolio that you sock away for long-term growth. This is a major asset that's sitting in my AA account, slowly depreciating in value over time.

It makes me uncomfortable knowing that I have so many unspent miles, and yet every time I go to spend them, I realize that it's usually not worth it. For example, using miles might keep me from re-qualifying for a certain status, or the cost of the ticket might be too low to consider miles, or it might be an upgrade that I tried to get but couldn't.

In any case, I'm finding it terribly difficult to spend those miles. Which makes me think they're worth even less than I originally anticipated. And now, with these cheap-and-easy bonuses from Citibank and other partners, miles are getting too plentiful and competition too significant to get major value without major headache.

So, yes, I have a LOT of miles. And I wish I could be using them instead of having those big numbers stare at me.

@:-) Personal thought while reading through this thread: A few months ago I thought my mileage account was worth little. Now I think it may be more valuable than my investment accounts. It does have more digits in the balance. ;)

I'm guessing that is lifetime miles, the show was replayed the other week and he said he donated a lot to friends, family, charities etc...

I was on a JFK-ORD flight in June with a 25MM...and he still didn't know how to handle his backpack as he almost clipped me round the face with it when getting up from his seat, which was how I noticed he was a 25MM.:rolleyes:

I would take the cash. In fact, I would never pay 15k for airline tickets. I just don't have that kind of money. But the nice thing about miles is that they free me, if only momentarily, from the tyranny of money. Because they are not exchageable for cash, I will do things I would never do if I had to pay cash. So there's monetary value and non-monetary value. As I can't get money for my miles, I focus on the non-monetary value. However, I understand your point, and an economist would certainly say your view is the correct one. But I was a liberal arts major.

I would take the cash, then take the same trip later using more miles I earned flying with the cash. :p

I wouldn't be taking the great trips even in coach if I had to pay for them, so I can put off doing them if someone will give me cash for miles, so I can earn more miles and cross that all important 2MM!

Here's eagerly waiting for it "with a worm on my tongue!" :eek:

Steve

PS--("baited breath") :D

PPS--got more than 730k at present, and planning another big trip or two in the next year.

What do you use to bait your breath? Not that I'm sure I want to know ... ;)

No doubt the worm from the bottom of a bottle of tequila, eh? ;)

Then I don't mind it so much, as I'm too blitzed. :D

Steve

250k RDMs IS a lot of miles.
My wife and I have over 500k AA RDMs (combined) at the moment, but have trouble finding the time to use them... so, perhaps that's really a bigger issue than the sheer number.