Sit-to-walk (STW) is a commonly performed activity of daily living that requires a precise coordination between momentum generation and balance control. However, there is a lack of biomechanical data demonstrating how the center of mass (COM) momentum and balance control interact. This study examines COM kinetic energy distribution in three movement directions and COM-Ankle inclination angles during STW among 15 healthy young adults, 15 elderly non-fallers, and 15 elderly fallers. We found that elderly adults, especially elderly fallers, chose a COM control strategy that provided more stability than mobility to perform STW. A smaller forward COM velocity, a more upward COM momentum distribution, and a smaller anterior–posterior COM-Ankle angle characterize this strategy. Healthy elderly adults modified their STW movement around seat-off so that they achieved a more upright position before walking. Elderly fallers not only altered COM control around seat-off but also showed limitation in COM control during gait initiation. Furthermore, their COM control in the medial-lateral direction might be perturbed at swing-off due to an increased distribution of kinetic energy. Examining COM momentum distribution in different movement directions and the relationship between positions of the COM and supporting foot during STW could enhance our ability to identify elderly adults who are at risk of falling.