Prominent “risk society” theorists such as Giddens and Beck have identified risk as a fundamental organizing principle of contemporary society. Importantly, a major cause of risk awareness and anxiety in modern society is individualism . . a concept Lesthaeghe linked to changes in family formation. In this regard, of the types of risk discussed in the sociological literature, “interpersonal risks” associated with cohabitation, marriage, and parenting are of obvious salience. This paper explores how the modern “risk society” thesis, and the concept of interpersonal risk could materially contribute to understanding the second demographic transition.