Freelancing is a job just like any other except that you're wearing more hats so you have the opportunity to be compensated at higher rates. In a corporate job

Freelancing is a job just like any other except that you're wearing more hats so you have the opportunity to be compensated at higher rates. In a corporate job you're giving up potential income because other team players are doing the marketing, accounting, networking. If you really want to wake up every day at 11pm and drink beer all day you have to separate income from hours worked. A really successful freelancer might be able to increase project/hourly rates to the point where they don't need to work that often but residual/passive income is a better long term strategy. Create technology and license it, create copyrighted materials and publish, write a song and collect royalties, purchase income generating real estate and find someone to manage it.