Anyone looking forward to discounts for the 55-plus set —such as deals at Lowe's or CVS — may want to factor in the cost of ageism.

Researchers and financial experts warn that stereotypes and attitudes about older people cost a lot of money — far outweighing the savings on 10%-off seniors' discounts. It's not just the targets of ageism that pay the price, it's taxpayers.

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According to a 2018 study by Becca Levy, who teaches social and behavioral sciences at the Yale School of Public Health, the U.S. is forking out $63 billion a year as a result of ageism in healthcare.

"I don't think ageism has changed dramatically since then," Levy told Moneywise, adding that if anything, the healthcare costs have risen with inflation.

It's a big problem in the labor force too. Just as U.S. sociologists Michelle Budig and Paula England identified the "motherhood penalty" — a phenomenon in which employers pay mothers less and assume they're less committed and capable — there's an age penalty that hits older workers in the pocketbook.

Here's a closer look at why ageism is so costly and how older Americans can fight back to protect their retirement.

Ageism can cost older workers their retirement

The nonprofit advocacy group Vantage Aging cites common job-threatening stereotypes about older workers. These include the assumptions that older employees are slow learners (when they tend to have better attention spans) and are baffled by technology.

In fact, according to a study by LinkedIn and AARP, twice as many workers aged 50 and over in the past five years have added AI and similar skills to their LinkedIn pages (compared to younger peers).

Sara Stegall, a chartered professional accountant with the Seattle firm Maris & Associates, told Moneywise that such assumptions can drive employers to push older workers out, devastating retirement plans. Such workers may be forced to draw on Social Security early, permanently reducing their benefits by up to 30%.

"A few years of age bias at the end of a career can reshape 30 years of retirement income, not just a few paychecks," she wrote in an email.