Best Way to Earn HawaiianMiles

The fabled triple dip is nigh and this is the best way to earn points and miles for Hawaiian Airlines if you’re living in Hawaii, and for those of us lucky to live Hawaii, we all know how expensive the price of paradise is. A goal of this blog is to encourage wokeism by cracking the code and maximizing the return of your hard earned legal tender. If the rich aren’t paying full price for first class, why not you?

Two-day event: Earn 5X HawaiianMiles at Kahala Mall

First make sure you’re subscribed to receive e-mails from Hawaiian Airlines to ensure that you’re notified of these seasonal mall events at various local shopping centers that take place throughout the year. At this particular event for every $1 you spend you’ll earn 5 HawaiianMiles.

Next, use a credit card with a reward system that transfers to HawaiianMiles and earns points with bonus categories. Kahala Mall has a Whole Foods and several dining options to choose form. Using the American Express Gold Card for his example for every $1 you spend you’ll earn 4 Membership Rewards points on dining or groceries.

For every $1 we’ve spent so far has earned us 5 HawaiianMiles plus 4 Membership Rewards points. Now remember, Membership Rewards points transfer to HawaiianMiles 1:1. In reality every $1 is earning 9 HawaiianMiles. We’re double dipping now.

Like Hawaiian Airlines, throughout the year American Express comes out with bonus transfer offers through a specified date as shown in the image above. If you don’t have any immediate trips planned, it would be prudent to bank your Membership Rewards points and not transfer to a loyalty program until a special offer appears. I myself only make large transfers a couple of times a year during these special offers and hold on to my HawaiianMiles until I actually need them.

Going back to earning points and miles, for every $1 spent at a special event, using a credit card that transfers to HawaiianMiles with bonus categories, and transferring Membership Rewards points only when a transfer bonus special offer is available, earned 5 HawaiianMiles plus 4 Membership Rewards transferred with a 25% bonus equals 10 HawaiianMiles per $1. Secured the triple dip.

What is Dollar Cost Averaging?

Dollar-cost averaging or DCA for short, is a blue print for investing in contrast to market timing. Investing an equal amount regardless of price at regular intervals, in theory, will allow you to realize a lower cost basis than you would have been able to achieve if you would had just dumped a lump sum of cash into the stock market on a single day.

For example, setting up an automatic investment of $500 a month in a Roth IRA on the same date every month would ensure the average price your paying is less than asset’s all time high due to poor market timing whilst maxing out the annual contribution limit of $6,000 for a Roth IRA.

For some months you’ll be buying high. While others you’ll be buying low as shown in the image above. However, averaging out the price you paid over the course of the year if the market is treading up, you’ll be riding the wave on a rocket to the moon.

If you would have invested the entire $6,000 in the S&P 500 on say Feb. 14, 2020, it wouldn’t be until Aug. 21, 2020 where you would break even from the pandemic low. With dollar-cost averaging instead of breaking even you would’ve made money.

Why it matters: Using the DCA technique ensures you’re not buying too much when the price is high while making sure you’re not missing out when the price is a bargain.

Key Takeaways:

• Dollar-cost averaging is a Set it and Forget it method that eliminates the FOMO anxiety when stocks are on a meteoric rise and the stress of panic selling when the market is crashing.

• For most people who know little about the stock market, you can’t go wrong using the DCA technique on a low-cost, no-commission, extremely diversified index fund that tracks the S&P 500.

• In the long run, investors using the DCA technique will lead to better results than trying to time the market due to human temptation of buying high and selling low.