Experiencing first hand. I hope at this age, I should have saved enough. But, single income and mortgage means better be realistic. I do take risk though, working for startup on cutting edge tech, than for a large company. Basically insurance for future job security. The risk I cannot think of is starting my own business.

Related - it is impossible to take risks if you or family have crippling health issues.

And when you have both, why even bother to take major risks.