$ set aside for son--moral delimma or personal choice?

Question

My sons father--my ex husband always paid child support and was a LARGE part of my sons life. I always put 10% of his child support in an account for my son so that he would have something later like for college or what ever. well my ex husband was murdered in April of this year. he left a VERY substantial amount of insurance to my son (that he will have access to when he is 18. 21 if he is not attending college.) Iam receivein survivors benefits which are less than the amount of child support i was receiving. i havent been taking the 10% from the benefits because of the insurance policy. A 'friend' of mine told me that i was wrong for not putting this money away for my son. I believe Iam doing the right thing and know in the end the decision is mine. but Im asking because I would really like to hear other peoples opinions. should i continue to put the money away even though he is going to be 'well taken care of' when he becomes of age. or should i use 100% of the survivors benefits for his care now?

Answer 1

i think you should do whatever you need to do so that you and your son can live good in the present and in the future. i think you dont need to use 100% of the benefits. see how long you can go on 50 to 75%. maybe cut out wasteful spending. that can go along way

Answer 2

I think you should leave the money in the bank that you have already saved up, and add that too his inheritance, but as far as the other money, it really isn't anyone elses choice what you do with it.  I personally believe that you should spend it however you want, because you do put a roof over his head, clothes on him, and everything else he needs, so no matter how you look at it, that money is probably going to end up going towards something that benefits him in one way or another.