RE: What Are the Risks!?!?!?!
You've already got some good advice. Here's mine.
Before buying anything, find a local club. Most clubs have pools of instructors. You want an instructor's help to choose a plane, engine, and radio. Go out to their field and observe. See what size and types of planes people are flying. There are many choices, even for beginners.
Don't skimp on the quality of the engine and radio. Trying to buy the cheapest parts here increase the odds of crashing. There is little reason for the beginner to go out and buy the latest 9 channel computer radio. I'd suggest buying one of the "starter" radios, from one of the name brand manufacturers. Around here, JR and Futaba are considered to be the most reliable.
If money is a concern, or you think you will like building, I also recommend starting with a kit. By building it yourself, you know how it goes together and what to do when, not if, you need to repair it. ARFs have their place too. Some people don't have the time, patience, or desire to build a kit. Buying an ARF allows you to spend your time at the flying field rather than in the workshop. ARFs have greatly increased the number of people flying.
As has been suggested, there are ways you can improve the survivability of the plane when you build a kit. The suggestions given were good ones. However, don't go overboard. Remember, you want to build a plane that is flyable. If you beef it up too much, it will be too heavy, which will increase the odds of a crash.
A good local hobby shop (LHS) is also an important sucess factor. Buy from someone who knows what they are doing, an R/C pilot, rather than someone who does other things and just happens to have a few planes on the shelf. I was very fortunate to have found a really good shop when I learned. The owner flew Masters class pattern. He taught me a great amount about building and flying. He and one of his friends handled all my early training. I owe it all to him.
Consider buying an inexpensive R/C car or boat. These will allow you to learn how to handle turning the right way when the model is coming toward you.
When you start flying, do not try to rush things. Listen to your instructor and take the time to learn how to do things right. You want to build the skills that will make you a good and safe pilot.
One final thought, be prepared to spend lots of $$$. This hobby can be addictive, and it's a huge amount of fun. If you take the time to do things right, the engine, or motor if you choose to go electric, and radio you buy should get you through many planes. Even if you never crash, there will always be new planes to spend your money on.