The average household headed by a 25- to 34-year-old had an average income of $65,041 in 2012, according to the Census Bureau. That’s significantly less than the average household income of 35- to 44-year-olds ($83,077), 45- to 54-year-olds ($87,318) and 55- to 64-year-olds ($80,967). Yes, many young adults could qualify for a subsidy. For example, if you are single and make less than $46,000 a year.
Still, young adults don’t have much going for them financially. Many college graduates are saddled with student loan debts. In 2013, student loan debts average $35,200, according to a May Fidelity survey. They’re facing a dismal job market, one where the unemployment rate has been over 7% since December 2008, according to the Bureau of Labor Statistics.
If young adults choose to voluntarily give their hard-earned money to their elders — whether grandparents, neighbors or friends — to help with medical costs, that’s their prerogative. But it should be their choice, not another burden forced on them by the Boomers and their ilk.