Boy this topic takes me back to something that I was told by a fellow puppeteer, which is similiar to alot of sage advice that has been shared with folks previously posted:
"There are no millionaire puppeteers."
What he was getting at is that no one who gets into puppetry, at least in America, is going to be a millionaire based solely on doing puppetry for puppetry's sake (ie. building and performing theatrical puppet shows for adults, children, touring, ect). People who have made a significant amount of money and sucess or fame in puppetry (his examples were Jim Henson and Jim Gamble) made that money through other means and ways. Jim Henson made his initial money using puppetry to sell commercials and then invested that money into other projects. Jim Gamble was an airplane pilot for the longest time and an engineer who later gave up that career and invested the money into a new career choice.
Also here is some advice from Mr. Bruce Campbell, the famous B-movie actor. On his website, he talks about how alot of people send him emails asking how they can be a Hollywood actor in movies. His answer is there are many, MANY levels to being an actor, and in reality it's all in what you are content with. If you get a big thrill working with your local community theatre, fantastic! If you belong to a local film group and you star in their low budget efforts and enjoy it, that's great! You don't have to be in Hollywood or L.A. or New York struggling for work as an actor to be considered an actor. However, if you want to go for a career in major motion pictures, there is a lot you need to keep in mind and research (sacrifices, unions, moving to where there is work, working several jobs in order to pay for your dream and its expenses, going to audition after audition after audition and trying not to get too discouraged when you don't get hired) and be prepared for those when they come up.
The same is easily applied to a life in puppetry: what are you content with? And be honest with yourself when you answer that question. If you like it as a hobby but want a regular 9-5 job that will keep you in health benefits and a steady pay check, that's alright as long as you feel it's alright for you. If you like working for a children's theatre (or several in case working one job can't support your cost of living) as a freelance builder or as their in house designer, great! If you're working for an already established puppet theatre in your area, one that is known in your area but maybe not well known outside your city or state, touring and doing lots of shows and building new productions, then alright! It's all in how far you want to go, or in some cases can go if you have a wife, girlfriend, husband, boyfriend, children, or other element that might limit the extant at which you can follow you're dream and passion.
As for myself, I've worked as a freelance puppet and prop designer and builder for 4 years now. I graduated college a little over a year and a half ago in Chicago, and worked with a local touring marionette company for 3 years. This past fall I got an amazing opportunity to work with Michael Curry Designs as an overhire in Oregon. Unfortunately, they weren't hiring on any permanent staff, so I had to go back to Chicago at the end of December.
Since I got back home, I've been hitting the pavement, sending out resumes to as many places as I can or have heard of. I'm 25, young and in relatively good shape, and I have a decent resume and portfolio. I don't have a girlfriend or wife or children, and my parents are still young and healthy enough to live and work on their own without having their children stay close to home to take care of them. So, I can afford to travel and go where there could be work and live there for a while or forever. I've lived in Chicago all my life, and right now I'd love to move and to live somewhere else for a while.
Am I making a living? You be the judge; I haven't worked a "real" 9-5 job in over 5 years and one of my few fellow college graduates that can say "I'm already working in my field after leaving collge." I've met some amazing people and worked on some incredible projects. Freelance work has been a major source of my income, and it can be quite nice to create your own work day.
However, I'm inbetween jobs and my budget is tight until I can find work again. I'm living at home with my folks until things pick up. Most of my friends have either left the city to find work elsewhere, or they're in other states, so it can get a little lonely at times. I'm not with a company that has health benefits, and the insurance I am on is VERY exspensive until I can find a better one.
Things will pick up, I know this. I've gotten some feedback already from a few companies, and there is possible work this summer for a theatre company in Kentucky working as a props master. It just takes persistance and timing, going out every day and getting your name out there and making yourself "a polite thorn in people's sides;" in other words keeping in touch with the people you're sending resumes out to and letting them know that there is an energetic and talented person who is interested in working with them.
Hope this helps?