We have a 5yo and 8yo. Most of the time, the question for whether they can handle something is less "are they capable?" and more "will someone call CPS?"
Even around 1980 an incident comes to mind--like 3am, walking down the street with a backpack on. The idea of getting my father up to take me to the rendezvous for the backpack trip didn't even occur to me. Now, what would happen? (I was IIRC 15 at the time.)