When financial advisors and business gurus talk about generational wealth, they usually point to the Hiltons and the Rockefellers as examples, whose smart money moves have benefited their heirs for decades. In contrast, the Vanderbilts, who were known for their extravagant parties and steadily declining wealth, are brought up as a cautionary tale of bad long-term money management. These extreme examples are not exactly realistic for most people, but they do illustrate how smart financial decisions such as investing in real estate can benefit families for many generations, while poor planning can leave a family with much less than they originally had.
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