David S. Hirschman says that you can make a better living writing online:

Web writing has a few obvious advantages over print. Aside from interactivity-instant feedback and comments from readers-web content has a lot of staying power. Where a short magazine article may fade into the ether a few months later, an article on the web will pretty much always available on search engines, with your name attached.

Articles on the web also get distribution to a wider audience than might normally read your work in print. Writing about a charged topic in a women's mag, for example, won't be read by most men (who would be unlikely to buy the title), but on the web the same article can circulate among blogs and get linked all over the web, creating a much larger forum. "Bloggers can triple the traffic to your article," notes Slate columnist and NYU journalism professor Adam Penenberg. "Sure, the web and particularly bloggers can be a highly vitriolic culture, but if your ideas are good, your work can endure in a way that it never could in the past."

On the other hand, it is fun to go to the magazine stand and hold your finished product in your hands. Until you get a paper cut and curse the day you started freelancing.

Read more of David's thoughts here.