Calculate the freelance income runway you need to safely leave your W-2. Includes emergency fund target and break-even math.
Your side income (or projected freelance income) must cover at least your essential monthly expenses. Optional: also cover lifestyle costs. Aim for income that covers essentials plus 20% buffer.
You need 3-12 months of expenses saved before quitting. Standard: 6 months. Aggressive: 3 months IF income is already breakeven. Conservative: 12 months for total peace of mind.
The earliest safe quit date is when BOTH conditions are met. Don't quit early on optimistic projections.