You are sitting on tens of thousands of dollars of travel.
![:P]( "Razz")
Keeping points for 20 years is NOT a good idea. Points currencies get devalued frequently and unpredictably, sometimes by large amounts. The best use of points is to save up enough for something nice that would cost a lot more in cash than it cost you to collect the points, and then spend the points on that while you can.
Of course, if you don't want to play the travel points game, taking cash back is the way to go. Your idea of opening an IRA is a good one - perhaps even better would be a Roth IRA. As for which fund, that depends on a lot of things, like what your goals and time horizon are, what your risk tolerance is, how much other savings you have, etc.
Keeping points for 20 years is NOT a good idea. Points currencies get devalued frequently and unpredictably, sometimes by large amounts. The best use of points is to save up enough for something nice that would cost a lot more in cash than it cost you to collect the points, and then spend the points on that while you can.
Of course, if you don't want to play the travel points game, taking cash back is the way to go. Your idea of opening an IRA is a good one - perhaps even better would be a Roth IRA. As for which fund, that depends on a lot of things, like what your goals and time horizon are, what your risk tolerance is, how much other savings you have, etc.
Statistics: Posted by snic — Sat Feb 08, 2025 9:10 pm