When I left a stable job with good pay and excellent benefits for self employment, I underestimated the costs of buying benefits on par with my old job.

Also keep in mind your family may be used to a certain standard of living and paring that back can be a challenge. We were frugal work a high savings rate. I underestimated the mental stress in down months when more money was going out then coming in.

With that much coming in, you could start it on the side, easily pay someone or a few people to do some of the work.

But it really depends on you, your mental state, etc.

I ended up getting a different Corp job. Wasn't worth the stress. However, I may try something else.

If nothing else, I leaned about the things I don't like to do and why.