If you want to market a service or product to the public, you have to know what demographic the money comes from. Contrary to popular belief, much of that money comes from an older age group, according to Jeff Weiss, a marketing consultant and founder of Age of Majority, a consulting and advisory website aimed at destroying myths about aging.

Weiss’s advice applies to those targeting consumers who need financial advice and other services, as well as anyone selling a product. Weiss has developed the "Dirty Dozen"—12 myths about aging that can make entrepreneurs ignore the aging population to their detriment, he said during a session at the Retirement Coaches Association conference on Wednesday.

Merchants of services and products “can no longer dismiss the opportunity to target, engage and sell to older, active consumers who control the majority of wealth and account for a significant portion of spending across most categories,” Weiss said on his website.

“This is a group of consumers, active agers not baby boomers, who did not exist before,” he said during the conference. “Forty percent of spending is done by those over 55 years of age.”

Realty defies the myths that can mistakenly rule marketing, Weiss said. The myths, and catch phrases that capture the ideas, include the following.

• “One foot in the grave,” is a saying that says aging is depressing. In reality, surveys have shown that people aged 65 to 79 rate themselves the happiest of any age group.

• “What’s a blue tooth?” This myths says older people do not understand digital technology.

• “You can’t teach an old dog new tricks,” which indicates older people will not switch brands they have grown accustomed to. “Everyone has brand loyalties, but most people of any age are willing to change,” Weiss said.

• “Don’t forget my senior discount” is the myth that older people do not have money. In fact, the older generation is the one that has accumulated wealth, Weiss said.

• “I’ve fallen and I can’t get up” is the stereotype that older people are not active.

• “You look good for your age” is an age discriminatory term that does not reflect the reality that most older people actually feel good about themselves, Weiss said.

• “Out to pasture” is the assumption that all older people live in old age homes, when in reality only a small minority do.

• “When I was your age.” This phrase makes older people seem disengaged from the community, when in fact most are actively engaged in a range of activities. “The highest incidence of sexually transmitted diseases is among the older population,” Weiss noted.

• “Out of sight” is the mistaken belief that targeting advertising to older consumers will alienate younger ones, which is not true if the advertisements are done well, Weiss said.

• “You’re past your prime.” There is no research to show that this kind of thinking is helpful in marketing services or products, Weiss said..

• “Tried and true” indicates older people will not try anything new.

• “Oh to be young again,” is a theory of generational envy that, in reality, does not exist.

“The age of the target audience comes into play somewhat, but not nearly to the extent most believe,” Weiss said. “Three-fourths of the older population is more active than most people think” and effective marketing should take that into account.