A 2x hourly rate (on a contract basis) only nets out to ~1x FTE over a typical year. (I'm speaking generally of course).
The 2x doesn't come for free nor is it just for PTO & health - it's paying for all the non billable time generally spent marketing, prospecting, qualifying leads, creating proposals, paying for time to proposals that never result in paid work, etc.
A typical independent consultant or freelancer only does billable work 50% of the time.
To answer your question as to "should you?" - it depends on your goals. Contracting versus standard employment is not just a financial, but a lifestyle decision.
The 2x doesn't come for free nor is it just for PTO & health - it's paying for all the non billable time generally spent marketing, prospecting, qualifying leads, creating proposals, paying for time to proposals that never result in paid work, etc.
A typical independent consultant or freelancer only does billable work 50% of the time.
To answer your question as to "should you?" - it depends on your goals. Contracting versus standard employment is not just a financial, but a lifestyle decision.