Why an early retiree adjusted his credit card points strategy to save on groceries during the pandemic
This article is brought to you by the Personal Finance Insider team. It has not been reviewed, approved, or otherwise endorsed by any of the issuers listed. Some of the offers you see on this page are from our partners, like Citi and American Express, but our coverage is always independent.is a former software developer who achieved financial independence and retired at age 34., he discussed how the coronavirus pandemic has altered his approach to collecting points and miles.
On a recent episode of his podcast, he discussed some of the valuable lessons he's learned during his "fourth year of freedom." And it's been quite the year — most of his takeaways are related to the coronavirus pandemic and the accompanying market crash. COVID-19 has shifted his strategy and thinking about money in several ways — and one relates to how he uses credit card points.Brandon's original goal was to earn a large stash of points and miles to cash in for travel during the next big stock market crash, so he could funnel as much cash into the down market as possible.
The coronavirus, unsurprisingly, put a wrench in those plans. While he did foresee a market crash at some point, he didn't expect a travel ban. "I started getting a little bit worried about having huge balances in those programs, because airlines are struggling at the moment. Hotels are struggling. Credit card companies are likely struggling," Brandon said. "Having a million points scattered across different programs was a bit risky for me at this stage, so I've actually started using some of those points to pay for groceries, which I am surprised about myself, but the deal was too good to pass up.
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