Well I think it can, but it's not something that can become financially sustainable straight away, you'll have to build up a very large clientele, and you're services will have to be top notch so that when you charge people higher prices than others they'll know that your work is quality.
I know a lot of people who've become freelance programmers, writers and proofreaders on LinkedIn, Fiverr and Upwork and they're doing just fine financially. Obviously they didn't get to this point in one day, it took time and effort, but they got there eventually.
Financial security is something that's difficult to find even amongst people that have great paying white collar jobs and it's no different for freelancers. The only difference is that with a white collar job you're guaranteed a paycheck at the end of the month, but you can be fired at anytime, but with freelancers, the paychecks aren't guaranteed, but at least you can't get fired.
If you've built up an impressive profile and a vast and big client base then you should do just fine financially.
I hope this helps.