Values will almost always decline over time, so I would use them whenever needed unless saving for something big.

See aa website

http://www.aa.com/i18n/AAdvantage/re...ating%20Awards

Also, miles do depreciate just link the green back.

I actually think of miles more like milk...they will just start to rot if you let them sit!

Eureka. I knew all this reading would pay off. Did you say date changes are free on AA award tickets. I have 395k aadvantage miles and want to plan a trip next year but was too uncertain .

Does that include cancelations or only changes of original itinerary?

If this is better suited to another forum, after a simple answer feel free to move it where you deem best.

TIA

For AA regular members, only a date change is free. Any other changes like itinerary, change in partner airlines, destination ,etc have a fee.

Use 'em when you can. Exception being if you can keep a cheap flight in lieu of using miles.

I always like to have enough miles available for two international tickets at any given time. I know that I am not going away in the near future but I am still accumulating miles for when the time comes. Why not build up the mileage accounts for when the time is right!

I have about 1 Million miles in my AA accounts for my wife and I. Maybe I should just book first class to Tahiti and be done with it.

That sounds like a nice use of some miles! If you go to Tahiti, make sure to visit Moorea which is a quick ferry ride away!

Does that mean cancellation is free also. If so can people without status speculate or open multiple itinerarys ?

No. There is a redeposit fee for your miles to go back to your account (at least for general members): "When requesting a reinstatement, there will be a $150 processing charge per account for the first award. Any additional awards reinstated to the same account at the same time will have a $25 USD per award."

However, if you make long range plans and there are schedule changes, you may be able to cancel the award and get the miles back for free instead of accepting changes. (I did this once when they made a connection way too tight for my elderly parents travelling alone.)

To join the chorus - use them sooner rather than later. Award charts devalue over time, taxes go up, airlines get acquired. The latter does not usually result in miles disappearing but the redemption opportunities do not always remain the same after an acquisition.

I'd use them now. My discount rate on miles is very high, especially as I suspect they'll continue to be devalued across all airlines. Add to that AA's issues and I think your mum should enjoy them now.

I would never bank miles for 5plus years in the future. The worst thing LIKELY to happen is that the miles will almost certainly be greatly devalued. The worst thing that COULD happen is that she doesn't retire or she gets injured or she dies and never gets to take the trip at all. A guy I know was scheduled at the post office to retire on Sept. 14, 2001. He had a robust stock account with Enron and Worldcom and all those, so why not grab the early retirement. He, is needless to say, still working at that same post office; indeed, he waited on me within this month. Stuff happens. And it can happen very suddenly. Couple the chance of illness and old age making it more difficult to travel, with the near-certainty that the miles will lose value, and it's an easy call to use the miles for vacations or other travel NOW.