Freelancing is a very satisfactory way of earning a living. The money can be quite good, and the freedom you get is priceless. In a time where job security is an oxymoron, freelancing is sometimes the only avenue, even if temporarily.
For most freelancers, the primary concern is uncertainty of the income stream. You are not being paid a regular income each month. Instead, you need to go out and look for work, and sometimes things may be dry for a few weeks, which can be very stressful.