The golden years aren't turning out to be that golden for many current seniors and retirees, according to two new reports that shed light on which older Americans are most likely to be economically vulnerable.
A new report from the Economic Policy Institute finds that seniors who are African-American or Hispanic, those who are female and those who are 80 and older are more likely to face economic woes than other older Americans.
"Public programs like Social Security and Medicare do a fairly decent job of keeping people out of absolute deprivation —absolute poverty—but there's still a huge swath of the elderly that are living pretty close to the line," said David Cooper, an economic analyst with the EPI, a liberal-leaning think tank, and co-author of the report.
(Read More: Retirees Face Up to the 'Million-Dollar Illusion')
Another report, released Monday by Interest.com, finds that households headed by people who are 65 or older are bringing in a median income of $35,107 a year, just 57 percent of the median income of households headed by 45- to 64-year-olds.
The Interest.com analysis is based on 2011 Census Bureau data that define income broadly to include earnings, Social Security payments, pensions, retirement plan income, interest and even welfare payments.
The results of both studies suggest that some seniors may be falling short of meeting their day-to-day expenses because they aren't bringing in enough money and have few options for increasing their wealth at that point in life.