It’s definitely possible! I started freelancing over 2 years ago and have averaged $65k per year since then.
Make sure to have multiple clients, never rely on one big client for all your salary — that client could stop at any time.
Always be marketing yourself and looking to keep your pipeline full. Even if you are not able to take them on immediately, you will be at some point.
Now and then, as you gain more experience and learn new skills, raise your prices. Never work for free to gain exposure, it is rarely to never worth it.
Say no to bad clients. If they won’t sign a contract, seem flakey or cancel calls, don’t get you what you need on time, or try to nickel and dime you (or straight up ask for significant discounts or free work), just say no. You’ll save yourself a lot of hassle and can spend that time looking for better clients.
It is cyclical. There will be down months and up months. Maintaining a pipeline helps to mitigate that, but it will inevitably happen. Stay on top of marketing and remind yourself it is a cycle and will go back up.
Pay your estimated taxes quarterly. You actually get penalized for only paying annually (in the US).