You can learn to take good risks and handle hardship without taking stupid unnecessary risks. One important life lesson is that the only risks worth taking are those that offer corresponding upside - else the expected outcome is ruin. Education wise this means you give them necessary or low-impact risks to take - and let them endure outcomes such as failing a difficult but important project, failing to find love, losing a basketball match, or losing friendships. Of course, sometimes you may need to do something even if there is no upside for yourself directly, but that is outside the scope of this topic.