Ageism can be devastating for those who experience it, severely impacting individual life outcomes and preventing social progress, advocates say.
Supporters of the cause are using Ageism Awareness Day to call for a national campaign spearheaded by the federal government to address ageism.
Advocacy group EveryAGE Counts, which aims to tackle the nation's problem with ageism, says many elderly people experience stereotyping, discrimination and mistreatment.
Spokesman Robert Tickner said there is hard evidence it is damaging to the health and wellbeing of older Australians in many areas.
"It often starts when people, in their early fifties, are denied jobs or promotions. Later on in life it is often a root cause and contributor to elder abuse," he said.
"All of us, if we live into our fifties or older will be impacted by ageism."
Anglicare Australia executive director Kasy Chambers said the impacts of ageism prevent progress on social issues like aged care and homelessness.
"It has taken years to get serious action on aged care because the problems weren't taken seriously. That inaction was driven by ageism," she said.
"Problems like poverty and homelessness among older people are still being sidelined, and older people out of work face tough odds with age discrimination making it harder to compete.
"In a world without ageism, older Australians would have better job prospects, better health, and more control over their life decisions. This would benefit all of us, and older people themselves."
Patricia Sparrow, chief executive of not-for-profit advocacy group COTA Australia, said the federal government needs to take immediate steps to address the problem, including strategies and policies to tackle ageism and age discrimination.
"There are some really positive, practical steps that our federal government could take today to push things in the right direction when it comes to addressing ageism," Ms Sparrow said.
"Reducing ageism in public policy, workplaces and in the community will unlock the experience and talent of older people to the benefit of everyone."
