Are we making our kids more risk-averse? Are western parents doing right by letting their kids explore the world by themselves?

I have seen only one side with it being an Indian. I am lucky that the ways that most decisions in the last 15 years have been my own and the risk/rewards. My father retired ten years ago. They are independent in financials as well as health. I think I am one of the lucky few. I keep seeing more and more friends and kids coming from tier2-3 cities sending money back home. I am not sure if it is expectations from parents or they send money under obligation.

Since families are so close-knit most of the decisions of youngsters in India are taken care of by parents. Someone said you not only marry a husband or wife but got into a relationship with entire relatives and village.

While growing up with the parents we get emotional support, financial stability. But does it adversely affect our individuality? Do we get drowned in emotions and end up taking many decisions of our life by our parents and relatives? Does it affect us from getting out of our comfort zone, doing the impossible, taking the risk?