I live in The Netherlands and work as a contractor. I would have to sell my house, my car and eat through all of my savings including most of my retirement fund before I am eligible for long-term unemployment (bijstand). And there isn't any other form of safety net for contractors. Not really an option for me.

We do have private insurance so that you don't bankrupt yourself in case you get cancer.

Because much of Western Europe has a better social safety net (especially healthcare) than many other places, a lot of people seem to think that being out of work for an extended period really isn't a big deal.

Even in western Europe, being self-employed means you're opting out of a lot of the things that are so well-arranged for employees. No paid sick leave, no paid vacation days, no unemployment benefits, you have to save up for your own retirement and get your own disability insurance.

And yet, for me it works. I'm much happier this way somehow.

I write this from Western Europe perspective, it goes all downhill on social help from there anywhere else you look :)

You don't have that much of social safety net when working on your own, thats mostly for perm employees. Financial buffer is obvious, but what if you end up with some horrible accident or illness that will drain it and need more. The amount of continuous stress is much higher compared to perm employees, additional bureaucracy, the need to chase next employment, overall insecurity etc.