Is Magic Key worth the money?

We got good value owning our MKs this past year but we are taking a gamble and letting them expire for now. We have two weeks of WDW coming up in July and we are keen on just enjoying our Knott's passes for our August VDH trip as it's more a family/pool/resort trip and Soak City fits more into that theme. Not sure what we'll do for October. May renew the MKs by then. Will definitely want either MKs or tickets for our November trip so that's when we'll have to break out the workbook formulas and see what makes sense.

We got great value out of our MKs this last cycle but we also went the Believe and Knott's AP route as that combo is cheaper than the top tier of MKs even if you include the food into your pass at Knotts.
We’re looking forward to visiting Knotts for the first time this summer! We have passes at our local park and decided to do the all park add-on this year so we could go to Knotts too.
 
We are local and have Inspire keys. We've probably gone 25+ times, so the math would say we've saved thousands of dollars. The one day tickets are so expensive now ($200+ with park hopper) that we probably would never go without MKs, or if we did it'd be like a 3 day, stay at the DLH staycation thing.

That being said, we end up spending TONs of money when we go, so its certainly not as simple as "go ~10 times and you'll net savings." We get G+ probably 1 out of every 3 times we go. Food, drinks. We're not big on merch, but occasionally my wife wants to get something... we spend $50-150 every time we go as a family of 4, unless we don't eat. We have started bringing our own food but that takes away a lot of the spontaneity. (as an aside, I'd pay $200 for a full year G+ add-on and just never have to think about buying it or not again!)

Also, if MKs didn't exist, we'd just do other stuff like go to the beach or a public park, or the zoo, and probably be just as happy. So it's impossible to say. For us, we love being able to decide night before or morning of to go (reservations generally aren't an issue if you keep checking) and we would just not go nearly as much if we were paying for tix each time. But it's not a money decision for us at all.
 
For me, yes, as of now. If the price keeps climbing at a steep rate, I will ultimately hit the point of Not Worth It, but I think that's down the road a ways.

But I'm only buying for myself, it's my "thing" as opposed to a sport or other recreational membership (golf for my DH), I'm retired, and I meet up with friends for fun events and celebrations. I like to take my grandson or go with my adult kids.

The concept of "worth it" comes up a lot, but it's impossible to determine worth for someone else. To me, it's not about breaking even monetarily. How do you put a value on what Disneyland makes you feel?
 

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