[Paul T]

Generational wealth is hard to pull off, often due to #5 above ^^. Those that have family offices with professional management have the highest chances of success, but often second and subsequent generations just spend, spend and spend their way into financial disaster. Personally, I don’t believe in large generational wealth transfers - I have no kids and most of my wealth will go directly to charities of my choosing, but even if I did, I would leave very little - definitely not an amount that would be life changing. It never (rarely) ends well for those that inherit a lot of $$ such that they don’t need to work.