My father offered me a dollar for every pound I would lose as a kid. It didn't work. And it doesn't really work in the long run.
What if you can't do what you once did, like run and jump up and down? You can walk, which is also good for your mind and mental attitude. You can do simpler exercises, like getting up and down from a chair without using your hands. You can stay fairly flexible. The most important thing is to not become sedentary.
When I was growing up, I did not exercise at all. I was raised in the French Quarter in New Orleans. If I saw someone running, I would call the police because I thought they stole something on Royal Street.