Yes I love what I do for a living and it is music would you believe. I have survived doing composing and production since 1980 and basically still doing it. I have supplemented it with teaching in the same areas to keep the money flow happening. I used the teaching to sharpen my skills doing the production. The teaching also gave me access to great recording spaces and microphones! I also played drums at least two nights a week since 1970 and for a large part of my live playing career it was 4 or 5 nights a week and that all helps too. I had some drum students too for a while.
With music composing especially it goes up and down. You can be busy for months on end and then nothing for a while. They are using composers less and less in the more main stream composing areas. I am moving more into library production now which can offer longer term royalty income. In the middle of all this I also studied a Jazz degree, on drums but piano as a second instrument and also for the theory and harmony knowledge. This improves your composing skills big time!
I also produce albums for artists and they come along at least once or twice a year. They are good but require a big chunk of time. And hard work. Your mixing chops get pretty sharp when you do something like this.
I sometimes get work mixing other multitrack sessions too and if I am happy with the quality of the raw materials then I do those jobs knowing I can pull a good sound out. Mastering too. I have mastered quite a few CD's now. There is always a smattering of simple easy to do jobs that are well invoiced jobs. Voiceovers, sound effects, transfer of analog to digital formats etc..
Live sound is another area for income for me. Not huge amounts but they do come along. It is good to translate your studio mixing skills into a live performance situation. If the room is half decent you can usually get a pretty good sound happening. If you don't mind the pressure of a live gig it can be rewarding and enjoyable too.
I also have a very supportive wife who has enabled all this as well. She is in highly paid teaching position now as Head of Strings in a very good private school and that certainly helps. But it was not always that way though. I earned a lot of money while my son was very young and that is an important time. Studio, live gigs and teaching.
All good and it is great when everything relates to each other. Each thing can enhance the other or compliment it.
We have moved too to another smaller city and regrouping there too. But I am close enough to a very large city to pull work in as a composer again. With the libraries you can write, produce and upload to anywhere in the world. There are demands in other areas for composing you just have to seek them out. You also need some great ideas and some killer technology to do it all but after all, that is the easy part!