If you think you can do it, and survive financially then go for it. The biggest problem most people encounter is building up their online profile to a point where they can live off the income.
I had a friend who decided to do this after she was laid off her long-term job. She was a skilled professional and the job market was dry, so she started some writing online. Because she didnt have any other income she worked at blogging and releasing online content, but she said that the first 9 months were the hardest. It was during this period that she was not making enough money to live off, but she managed to stay frugal and get by. If this is possible for you then go for it, once you are in the clear then its a lot easier to manage an online lifestyle.