Our knowledge of the population of young (age <=750 Myr) stars that lie within ~120 pc of the Sun is rapidly accelerating. The vast majority of these nearby, young stars can be placed in kinematically coherent groups (nearby, young moving groups; NYMGs). NYMGs and their member stars afford unmatched opportunities to explore a wide variety of aspects of the early evolution of stars and exoplanet systems, including stellar initial mass functions and age determination methods; the magnetic activities and high-energy radiation environments of young, late-type stars; the dynamics of young binary and hierarchical multiple systems; the late evolutionary stages of circumstellar disks; and, especially, direct-imaging discovery and characterization of massive young exoplanets. In this Astro2020 Science White Paper, we describe how our understanding of these and many other aspects of the early lives of stars and planetary systems is ripe for progress over the next decade via the identification and study of NYMG members with present and next-generation facilities and instruments.
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