I masturbate a lot,will this reduce our risk of having children?

No, not really. Men reproduction is a bit different than women's. Where woman are born with a limited amount of eggs that they will ever produce in their life time, men produce a whole lot of sperm each day. Males are not limited on how many sperm they can produce in their life time. Look at Pablo Pasco, he had children up into his 70s and I imagine he masturbated, too. Most Fine Artist were and are wicked. LOL (Sorry, I had too much fun typing that one out...I'm Graphic Design Artist.) So, you don't have to worry about reproducing any offsprings. You are more than capable in doing so as long as you don't have a medicial problem that might prevent it from happening. Good luck on having children when both of you are ready to have them.