My generation 1 is now a teen, two days to YA and that are my thoughts so far:
Very early, I decided to give every heir the ambitious trait since that fit in with that family's history (my dynasty is based on the Targaryens from Martin's A Song of Ice and Fire). I only realised through Snuffles' comment the advantage. ^^"
Then, almost every child born into that family will get the genius trait. That really helps through the toddler days.
My founders are both family orientated. The woman has the Surrounded by Family LTW (many happiness points through all the children) and is the one to care for the kids. They will help with the money in their adulthood. Her husband got the LTW that is associated with the ghostbuster job. He is the main-moneymaker in the early days.
Later, they adopted two dogs. They already found two Plutonium.
In the other worlds I will maybe marry a rich spouse and/or move in rich sims.
My first heir is going to be a world renowed surgeon and will do the three most time-consuming Logic challenges. To give him the time, I will send him to University. I intend to use most of the travels to get more time for completing the challenges (e.g. the writing or sculpting challenges).
As for the other challenges and rewards: I'm doing a little overview for myself. ^^
By now I can say that I won't use any skill certificates so no skill would be limited.
And another career with many rewards would be Jockey with all that trophies.
One question in the end: the potions from Generations do count as a collection, don't they?