I’m not sure my kids are more risk averse – especially ShawSon. My kids were both on the other coast, but ShawD has moved back. It wasn’t unfamiliar territory – ShawSon did his graduate work at the same west coast school where I had done some of my grad school.
ShawSon started his first company as a senior in college and his second while in grad school. I became an entrepreneur after a post-doc, 6 years as a professor and 6 years on Wall Street. So, he took risk earlier.
But, both kids say that they would like to raise their kids in the exurb where they grew up. ShawD moved back in part to be near us/friends and to raise kids here – though she will have to find a mate first. ShawSon has mused about coming back for the first few years of his kids’ childhood (again, none exist yet). But, ShawSon’s social/professional network is Bay Area tech and VC and MBAs. Our DIL has worked for Bay area tech companies for most of her career. I don’t know whether they could easily leave.