Applying the theoretical framework of social capital, this article investigates whether adolescents' popularity among their peers during junior high school protects them against a financially marginalized position (as indicated by unemployment, social assistance reception and low educational attainment) in young adulthood. Based on a Norwegian population-based panel study covering the period 1992-2005, the analysis shows that popular adolescents are less likely than unpopular adolescents to be financially marginalized. Previous research, however, indicates that social ties to peers who are seriously involved in substance use and norm-breaking/delinquent behaviors may have a negative influence (in terms of successful school-to-work transitions) on norms and lifestyles. This raises the possibility of a dramatic interaction: For adolescents whose friends are engaged in risk behavior, being popular and having a lot of friends could actually increase their likelihood of future marginalization. The analysis in this article, however, shows that there are positive long-term effects from being popular in adolescence, even for those involved in risk behavior and "risky" friendships. (Contains 5 tables, 1 figure, and 16 notes.)