This study examined the implications of family time for first-born and second-born adolescent offspring, mothers, and fathers in 192 dual-earner families, defining family time as time shared by the foursome in activities across 7 days. Data were gathered in daily telephone interviews. For first-borns, higher levels of family time at Time 1 predicted less involvement in risky behavior 2 years later, controlling for Time 1 risky behavior. Longitudinal analyses predicting depressive symptoms revealed family time X parent education interactions for first-borns, fathers, and mothers, suggesting that the implications of family time depended on social class. The pattern of results suggests that family time is protective when chosen by family members but not when it represents a default use of time.