This chapter addresses how older adults manage the occurrence of physical health threats. Based on the motivational theory of life-span development (Heckhausen, Wrosch, & Schulz, 2010), we show how an opportunity-adjusted use of control strategies prevents older adults from experiencing the adverse psychological and physical consequences of confronting age-related declines in their physical health. We begin this chapter by outlining some of the basic theoretical assumptions of the motivational theory of life-span development, proposing a model for managing physical health threats in older adulthood. Next, we review the empirical literature on the effects of using control strategies for addressing physical health declines in the elderly. We finally suggest promising avenues for future research.