I hear a lot of young people wishing they can build generational wealth for their kids. The kids of their kids and the kids of their kids' kids. But is it really up to us? We can build wealth now and leave all our assets to our kids but how can be sure they can protect the wealth and make it grow even more?
Honestly the best thing we can do is to teach our kids and hope that all the things we got to accomplish for them won't be put into waste. Build your portfolio now. Invest in assets that will be profitable in the long term so you can leave this to your kids.
When people think or talk about these things, at least in the sense of the 0.001% who have generational wealth - then they generally have hundreds of millions that would barely take a dent if it was invested reasonably well and did not have extremely reckless spending by one or two generations. These sort of sums generate millions, if not tens of millions a year in income, which if you spend below that amount means that the pile will only keep getting bigger as you hand it on to the next generation. However this sort of wealth is only ever going to be a reality for a few thousand people across the planet. Most people will never come close to this and could only dream to give their own kids enough to live comfortably and work hard to educate them on finance so hopefully there is enough to pass on to the next generation.