Yah owning your own firm is good, but risky. I come form a family of small business owners and while they all love it, it certainly brings them more stress them working for someone else. If you work for a firm you can pretty much count on getting your pay check every two weeks. However if you work for yourself sometimes you might go a bit without getting any money. Plus you have to handle everything yourself form advertising to paying the rent. it gives you flexibility, but also the possibility that you could invest a lot of time and money and go broke. It really all gets down to a trade off between time/money/stress/hard work. As long as you figure out what balance is right for you, you will do fine
One a side note. I have hard that being a judge does not require long hours and gets good pay. Is that rue.