Pros and Cons of being a Freelancer

I am working as a freelancer since last 3 years and today I was just thinking why don't everyone having years of experience in Industry opt for being a freelancer after some time as there is more money because for same work when I was getting roughly 50 k per month now I am getting 3 times more for same work, there is no boss, no coworkers to deal with , own hours means you can work anytime you want

Now there are few cons that I have observed

You have no social life, I don't have many friends only few even to whom i don't get much time to spend with (not sure if I need to improve my time management skills or where I am lacking).

Clients can ping you anytime even during night time as most of the clients are from pacific time zone (in my case)

So I am both happy and sad, financially I am strong but socially I am weak again a question is what is more important for someone money or social life