Not having generational wealth is a disadvantage for anyone, doesn't matter who you are. Didn't used to be as devastating, but all the things you point out--inflation, medical costs, etc.--conspire to make it harder to make your own money early enough to grow it long enough. In order to buy Pepsi stock you've got to have the money on top of your other expenses to do it, after all.

Very good info about Medicaid and how that all works. I think that's another aspect many people are not aware of.