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The reliability of our memories is of crucial importance, both in extraordinary situations (e.g., court testimony) and in everyday life (e.g., when a person must take medication on a regular basis). To address this issue, numerous studies have documented the conditions under which false memories emerge. Research clearly demonstrates that memory distortions, while a normal and frequent phenomenon in the general population, are greatly accentuated in older age. Here, we review studies that document the impact of age on memory distortions using the DRM and misinformation paradigms. Next, we examine the factors that underlie false memory susceptibility, with a focus on socio-emotional factors, and in particular stereotypes about aging. We present recent results that highlight the way negative age-related stereotypes might threaten older adults and influence false memory susceptibility. Importantly, we also demonstrate that older adults’ memory distortions can easily be reduced by taking into account tasks’ characteristics and participants’ motivation. Finally, we discuss the implications of age-related stereotypes when older adults’ memory is evaluated, both from a theoretical and an applied perspective.