Smaller aircraft are as risky as you choose to maintain and fly them. However, if you take the total accident rate of general aviation, including some of the very riskiest activities, it is still no worse than riding a motorcycle. Most accidents are caused by pilot stupidity, not airframe or engine failures. Pilot mistakes include overweight/out of CG takeoffs, flying into knowable or known adverse weather, low altitude flight into obstacles or terrain, flying with insufficient fuel or forgetting to switch fuel tanks, hitting obstacles in low altitude flight, and other such sadly predictable mistakes. I call these mistakes "stupidity" because these are the very things one is tested for in the written exam and on the check-ride. There is no good excuse for most of these accidents.
By comparison, mechanical failures of one sort or another are less than ten percent of all accidents, and they usually do not result in significant injury. Problems include landing gear failures, engine cylinder cracks (that's what happened to me), birds building nests in places that interfere with flight controls and the like. These sorts of problems are less likely these days due to improved manufacturing, improved maintenance practices, and improved aircraft designs, including emergency ballistic parachute systems.
That said, aerospace engineering, particularly with aviation, is a boom/bust sort of business. Right now, there is a shortage of pilots. However, most pilots are paid wages that are, shall we say, lower middle class at best.The industry is constantly changing. If you choose to get involved with Aviation, keep studying other things on the side, just in case things don't go well for you, because sooner or later it won't.