Yes, you need a lot of wealth to do serious research on your own topics and not have to do what the grant-granters want.
To whoever modded me down: there are HUGE fixed costs that are required to do truly cutting edge research in biochem. Perhaps in physics you can sit around and figure out quantum gravity by yourself but that affordable path to success seems unlikely.
No way. Didn't someone figure out cold fusion in his kitchen sink? ;)
To do it full time, yes. I already have started, but large blocks of time uninterrupted by commutes, work,etc can only help...