The concept of the afterlife can be a sticky subject for a Generationalist to talk about. It's one of those things that because of the focus on the individual, and their interpretations of reality, is somewhat of a vague concept and one that is largely different from person to person. In this essay, I will make a brief attempt at oulining the prevalent ideas of an afterlife for both Traditionalism and Generationalism (the Gnostic concept is pretty much the same as the Traditional one).
Traditionalists believe in reincarnation. The human soul which resides in the psyche and is made up of energy simply takes it's place in a new unborn child or other lifeform. The human body is made up of the same elements the universe is, and thus, their energy is reincarnated after it returns to its starting state. This happens eternally.
Generationalists believe in a soul just as Traditionalists (Gnostic Satanists) believe in one--but the human soul is consciousness, not simple energy. Instead of simple eternal reincarnation, there is a 'pool' (speculatively, this is the collective unconscious) that bears a great resemblance to the concept of Sheol--a kind of half-material existence. Generationalists believe that the soul can retain it's shape and identity in 'Sheol' for all time, but at any time it can also choose to return to life and live as a human or other lifeform, without memory of its previous lives or existence in Sheol. The soul in its true form, without the restrictions of the flesh, can influence events by willing the change.