Sounds like you are pretty much right on! (See below)http://en.wikipedia.org/wiki/Young_adult
The general term "Young adult" refers to different age groups based on context:
* In popular usage, "young adult" is a euphemism for an adolescent.
* In health and human development, young adulthood is considered to be the stage between adolescence and adulthood, roughly ages 15 to 24.
* In psychology, people of the age 20 to 40 are considered Young adults.
* The Catholic Church Considers Young Adults to be between the ages of 18 - 35. Young Adults this age can attend World Youth Day.
* In the marketing of literature, books for Young adults are targeted for ages 12 to 18.
* In the game The Sims 2, "young adult" is the life stage associated with The Sims 2: University.