Too long for comment:
Safety goggles! My dad had a metal lathe, milling machine, table saw, radial arm saw, arc welder, bench grinder, air compressor and a slew of power/air/hand tools in the garage growing up. The only things me and my brother every wanted to use ourselves were the bench grinder and maybe a power drill. My dad bought us a "child's" scroll saw, it was ~15" square portable table model and was near surrounded with plastic safety guards, you could only cut ~1/4 boards with it; I think I was 10 and my brother 12. My dad would draw shapes on boards and we'd have to cut them out, if we messed up the shape it didn't matter too much but if we forgot safety goggles we were banned from garage/helping for the day. Then my dad would make us cut something out from the inside of the board, basically we'd have to drill a hole first and that saw we had was not friendly to that (all the plastic guards) but eventually he removed all the plastic permanently and we just kept stepping up. I think we learned about the air compressor for filling up bike and car tires, then maybe sanders. I don't remember using a circular saw at all but I do remember using a reciprocating saw. My dad used to cringe but let us use the chainsaw later to clean up tree debris (Florida hurricanes, had 2-3 trees fall a year).
I'm only 26 right now, no kids, but from my perspective the deadliest thing you can equip someone with (aside from an actual weapon) is a car. Teach them responsibility and safety early on and let them use whatever within reason (what you can do without your stomach churning) and that you would feel safe with them operating alone. It would be tougher with multiple kids spread out because they want to do what their older sibling is doing but set boundaries and make sure you are having fun being dad and teaching them and it shouldn't go wrong.