Ageism can shorten life spans by almost eight years, contribute to elder abuse or push people out of the workforce, but many often overlook the issue because it doesn't yet affect them.
This is why Australia needs to officially recognise the issue and in a joint speech to the National Press Club on Wednesday, age discrimination commissioner Robert Fitzgerald and World Health Organisation campaign consultant Marlene Krasovitsky will call on governments to establish Ageism Awareness Day.
According to the Council of the Ageing (COTA), there are three main types of ageism.
Internalised ageism occurs when older people limit themselves based on their perceptions of age.
Benevolent ageism - which can be seen in aged care or health services - happens when those who try to help inadvertently take away people's agency.
While systemic ageism is particularly evident in areas like employment, where one in six organisations will not consider hiring people aged 65 and over, and banking - where older people often struggle to get loans.
Australian Association of Gerontology policy manager Amber Mills has called on governments to recognise the issue and provide adequate protections for older people around issues like financial abuse.
"Ageism is dangerous because it's at the heart of bigger issues," she told AAP.
"Describing someone who is older as not having agency, not having power, losing capacity - these are ways to put someone down and exert power over them.
"It's the opposite of holding up and celebrating the wisdom of older people in our society."
The number of Australians aged 65 and over will more than double in the next four decades, the population older than 80 is forecast to more than triple and the number of centenarians is expected to increase six-fold.
Only by calling out the issue can Australia begin to address ageism and make the most of this growing demographic, COTA chief executive Patricia Sparrow said.
"Older people can contribute, but too often they're really seen as a problem.
"We want them to be seen as a great resource that we could be using more effectively."
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