Jónsdóttir HL and Ruthig JC. – The psychological well-being, physical health, and survival rates of older adults may be adversely affected by falls; however, the negative impact of fall on health and well-being may be mitigated by certain psychosocial mediators. Therefore, researchers assessed perceived control (a psychosocial factor) as a mediator of the falls–health and well-being association in a sample of 232 community-dwelling older adults aged ≥ 68 years who participated in a longitudinal study in 2008 and 2010. From 2008 through 2015, survival was recorded. Poorer health and well-being 2 years later was seen in older adults who suffered a fall vs those who did not. Perceived control was identified as a mediator of the negative influence of falls on subsequent health and well-being results 2 years later. Better subsequent health and well-being among older adults who encountered a fall was predicted by higher levels of perceived control. Suffering ≥ 1 falls was also identified as a predictor of less probability of survival 7 years later, beyond the influences of age, sex, marital status, and education. Overall, the evaluation of the risk of falling as well as levels of perceived control in later life holds significance.