I have jowls and I feel like my face is falling. Thoughts and opinions please? What should I do? (Photo)

A short scar facelift is a great option for many people. The recovery & downtime is very minimal. There are usually no drains, most people can go out the same day, you can shower the next day, there're no scars behind the ears and you can wear your hair up anytime and most patients take no pain medicine. The result is usually the same in selected patients as a full scar facelift but it really depends on your exam.
Surgery is not for everyone. In today's day and age, there are many nonsurgical options to consider although surgery usually gets the most improvement specifically of the neck and jowls.
I would recommend that you see a board-certified plastic surgeon in your area that is a member of both ASPS & ASAPS and performs a lot of mini facelifts and neck lifts but also offers all the nonsurgical options such as injectables and laser treatments. Go over your concerns with them and make sure above all, you walk out of there with several options and an idea of the pros and cons to each of them as well as realistic expectations. 
I hope this helps and wish you all the best in your surgery and event. If it does, please take a moment to up vote this answer on the “respond” button on the top right.  

If you feel that your face does not reflect how young you feel inside, you may be a candidate for a facelift.During your #consultation, your skin texture and elasticity, as well as your underlying skin structure and your facial bone structure will be evaluated. Based on this evaluation, your board certified plastic surgeons will create a custom surgical plan, detailing specific techniques and recommendations to meet your goals. In doing so, he or she should be sure to have a full understanding of what results you expect.If you are not a #candidate, your surgeon can make other suggestions to address your concerns and objectives.Patients who desire facial rejuvenation that is affordable, quick, and effective should consider the Lite-lift™. Like the Life-Style™ facelift, this is a modified facelift that can be performed in the office with a local anesthetic and improve signs of aging around the neck, jawbone and lower face. These procedures are not "Thread-lifts" or "String-lifts". We do not use the "barbed" sutures employed in these other lifting operations. The Lite-lift™ uses longer lasting techniques that are discussed below. Because the incisions are limited, there is less bruising, swelling and healing time for most patients. Many patients can be back to work in one to two weeks looking rested and more youthful.The best candidates for #LiteLift are patients 35-60 years old with early changes of the lower face and the neck. Older patients who cannot or do not wish to have a longer operation or general anesthetic can be improved with a Lite Lift™.Lite Lift™ surgery is individualized for each patient. The best candidates for Lite Lift™ surgery have a face and neck line beginning to sag, but whose skin has elasticity and whose bone structure is well defined and do not smoke.

If your objective is to do all you can, a lift would help you. If you want to do something to help the situation but not entirely address the situation, then fillers might be a consideration.

A facelift may help you get rid of the jowls and smooth away the deep creases around your nose and mouth.  

You are in the early stages of needing a faceluft to correct these issues.  I agree you are a little young and could hold off for now, but I wouldn't waste money on non surgical approaches or injectables.  If you don't want a faceluft yet, hold off for a few more years.

From the photographs I think you would get an excellent result from a facelift. The upper eyelids are bit heavy in my benefit as well. It looks as though some volume restoration would help the lower lids.

Facelift for a younger patient

Patients
often ask me when is the right time to have a facelift. I routinely perform
facelift on younger patients that have some specific signs of aging, like jowls,
neck looseness or overall cheek settling. Some
patients that tell me that they looked great in their early 40’s and then in a
couple of years they aged significantly. An
experienced an talented facelift surgeon will be able to assess the aging
changes and develop an appropriate surgical plan. A well executed and
individualized surgical procedure can have a dramatic and yet natural result.
Seek out a well regarded surgeon, ask to see before and after photos of other
patients with similar age and similar facial anatomy.

Your lower face is aging slightly ahead of the upper face.  I would suggest you consider a facelift, some mild liposuction in the jowl, and fat graft below this area to improve the pre jowl sulcus.  The neck should be included in the facelift.  I would also recommend laser resurfacing which will add some degree of additional tightening and also improve the quality of your skin.  Although this may seem like a lot of surgery, at 47 you will recover quickly, and enjoy the results for many years

  A lower face and neck lift will give you an improvement in the jowling and neck area.  Select a plastic surgeon who produces natural results.Kenneth Hughes, MDLos Angeles, CA

Thanks for your photos and based on your photos you may be a good candidate for a lower face and necklift, but I think you would probably get a lot out of a face to face consult with a plastic surgeon in your area.  There are a lot of different options and approaches to facial rejuvenation (which usually means there is no one absolute right answer) so sitting down with a surgeon, letting him or her examine you and go over your goals in detail is a great start. Great question and best of luck!