Adolescence is characterized by heightened risk taking, along with salient peer relationships. This study leveraged data from 167 adolescents across five years (M(SD)age = 15.05 (0.54) years at Time 1; 47% female) to examine how risk perception and peer victimization in adolescence interrelate and predict risk likelihood in young adulthood. Bivariate growth curve modeling revealed that higher initial levels of positive social risk perception predicted a slower decrease in relational victimization throughout adolescence. Higher initial levels of relational victimization in adolescence predicted higher negative social risk likelihood in young adulthood. Adolescents with heightened risk sensitivity to positive social risks may be vulnerable to relational victimization, and prevention efforts to reduce relational victimization may protect adolescents from future negative risk taking.