1. having no luck, no money, and no opportunities

1. There are many young people down-and-out in the city.

2. Nobody loves you when you're down and out.

3. John gambled away all his fortune and is now completely down-and-out.

2. someone who is impoverished

1. There were a couple of down-and-outs sleeping under the railway bridge.

2. The down-and-out touched Martin for a fiver.