As a parent, our job is to prepare you to be an adult, and our involvement should gradually decrease over time.
As babies, you have no capacity for self-determination. You literally can't decide where you are or what you do. You're luggage that can scream.
As you get older you become capable of more, and as parents, we should be giving you more responsibility over the choices you make.
Here in the U.S., from a legal point of view, your parents are responsible for you up to the age 18. Regardless of how much freedom you're allowed before 18, your parents are on the hook for any damages.
At 18, that changes. Now you're legally an adult, and you are responsible for all your choices. However, your brain development is incomplete, and you haven't developed the ability to fully comprehend the future consequences of your actions.
From 18 to about 27, you should be making your own decisions, but your parents should be available for advice or rescue when you make a mistake. The idea is for you to make mistakes, but have the support to be able to learn from them.
From there, parents should continue to step back. Advice can always be given, but it is up to the child whether to take it, and as parents we have no say in what advice children follow.
Personally, I'll always be available to help any of my kids in any way I can. However, at this point my job is not to actually intervene until asked. I can, however, initiate the conversation when necessary.