It depends on the length of your contract and your confidence in the client. I've had several clients/projects that have lasted longer than a year and since I a

It depends on the length of your contract and your confidence in the client. I've had several clients/projects that have lasted longer than a year and since I always bill at least 2-3x what my expected cost of living is I am easily giving enough runway to find my next client. In 2011 for instance I took the year off to focus on personal projects and wait for the right new client to come along. I have now been with that same client for 2 years at 40+/hrs a week.